The outlook for Natural gas stocks looks good. However, these stocks need to cross and sustain above the key levels for renewed buying interest.
International Holding Company (IHC) has agreed to invest $2 billion in Adani Enterprises, Adani Transmission, and Adani Green Energy through preferential issue
Adani Wilmar, Adani Power, and Adani Total Gas are expected to see up to 18 per cent upside in the coming sessions
The boards of directors of Adani Enterprises, Adani Transmission and Adani Green are scheduled to meet on Friday, April 8, 2022 to consider the proposal for raising of funds.
Adani Wilmar has surged 61% in the last one month; Adani Total Gas and Adani Enterprises rallied 35 per cent and 33 per cent, respectively.
The stock was up 16 per cent in past six trading sessions after the company announced its foray into electric mobility infrastructure sector.
Gas related stocks are likely to benefit from the price hike on commercial LPG; Charts indicate fresh highs for select shares.
Adani Green Energy rallied 8% to hit a new high of Rs 2,094, and has surged 12% in the past three trading days
Firm has won licenses to expand its City Gas Distribution network to 14 new geographies in the recently concluded 11th round of CGD bidding by the Petroleum and Natural Gas Regulatory Board
In the past seven trading sessions, the stock has rallied 36 per cent after the company announced a provisional operational update for Q3