Latest news with #AdaniTotalGas
Time of India
3 days ago
- Automotive
- Time of India
Ambani-Adani partnership expands with joint fuel marketing deal
Adani Total Gas and Reliance BP Mobility have formed an alliance to offer their respective fuels at each other's retail outlets, marking another collaborative venture between two of India's prominent conglomerates, Adani and Reliance. Previously, Reliance Industries acquired a 26% stake in Adani Power's subsidiary, Mahan Energy, for Rs 50 crore. The latest collaboration enables Adani Total Gas to sell Reliance BP 's petrol and diesel at their stations, while Reliance BP will distribute Adani's CNG at their outlets. This arrangement plugs gaps in both companies' fuel distribution networks. PSU oil companies follow a similar practice in various cities, where CNG retailers have installed dispensing units at petrol pumps. Adani Total manages 650 CNG stations nationwide, while also offering compressed biogas, electric vehicle (EV) charging facilities and LNG for transportation. Reliance BP has a larger network of 2,000 retail outlets dispensing liquid fuel, complemented by EV charging services at select locations and convenience stores.
Mint
3 days ago
- Business
- Mint
Adani Group Shares: Adani Total Gas share price jumps 7%; rises 12% in five days
Adani Group Share Price: Adani Total Gas share price surged over 7% on Friday, marking its fifth consecutive session of gains amid strong buying interest. The Adani Group stock rose as much as 7.48% to ₹ 694.00 apiece on the BSE. The recent uptrend has led to a 12.5% rally in Adani Total Gas shares over the past five trading sessions. The sharp rise in Adani Total Gas share price today was accompanied by a significant jump in trading volumes. On June 27, approximately 97 lakh shares changed hands on the stock exchanges — well above the one-week average of 21 lakh shares and the one-month average of 14 lakh shares. Adani Total Gas on June 25 announced a partnership with Jio-bp, the operating brand of Reliance BP Mobility Limited, to offer each other's fuels across select outlets. Under this partnership, select Adani Total Gas fuel outlets will offer Jiobp's high-performance liquid fuels (petrol and diesel), while select Jio-bp fuel outlets will integrate Adani Total Gas' CNG dispensing units, within ATGL's authorized Geographical Areas (GA). Adani Total Gas is a joint venture of Adani and TotalEnergies, while Jio-bp is a joint venture between Reliance Industries and bp. Adani Total Gas currently operates a network of ~650 CNG stations, while Jio-bp has a network of ~2000 outlets. The agreement covers both existing and future outlets of both partners. Adani Total Gas share price is forming a 104-day long cup and handle pattern, with the current momentum candle already attracting volumes over 500% of the 50-day average — an early signal of strong institutional interest, said Anshul Jain, Head of Research at Lakshmishree Investments. 'This surge in volume often precedes a breakout. For the breakout to confirm, Adani Total Gas stock price must breach and sustain above the key pivot of ₹ 710. If successful, bulls will likely target ₹ 781 in the near term. The setup is mature and a sustained move above resistance will trigger fresh momentum,' Jain said. Adani Total Gas share price has risen 1% in the past month and over 11% in the last three months. However, the Adani Group stock remains down 9% on a year-to-date (YTD) basis and has declined 24% over the past one year. Despite the recent volatility, Adani Total Gas share price has delivered multibagger returns over the long term — rising 313% in the last five years. At 12:35 PM, Adani Total Gas share price was trading 5.40% higher at ₹ 680.55 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Business Standard
3 days ago
- Business
- Business Standard
PSBs, Oil & Gas stocks boost benchmarks in 4th straight upday; SMIDs gain
Shares of public sector banks and oil & gas-related companies were in high demand as the benchmark Indian equity indices — BSE Sensex and NSE Nifty50 — continued their northward march for the fourth consecutive session during intraday trade on Friday, June 27. The sentiments remain favourable among the broader as well as the sectoral markets, with steady buying seen across the counters. At last check, the BSE Sensex was trading higher by 168 points, or 0.20 per cent, at 83,924. The index has so far fluctuated in the range of 83,985.09–83,645.41 during the session. Similarly, the NSE Nifty50 was trading at 25,614, up 65.50 points, or 0.26 per cent. The index was seen at an intraday high of 25,622.50 on Friday. Nifty50 eyes 25,700–25,750 Technically, the Nifty50 index, Aakash Shah, technical research analyst at Choice Broking, believes, is well-positioned above its 10-day and 20-day EMAs, while the RSI crossing 65 indicates rising momentum. As long as Nifty holds above key support levels, Shah sees a buy-on-dips approach as favorable, within further upside towards 25,650 possible. "Nifty gave a strong breakout above its recent consolidation, showing rising optimism among traders. Heavy put writing and call unwinding also confirmed bullish strength. With no major resistance till 25,700–25,750, the rally may extend 150–200 points. Support now lies around 25,300–25,350, keeping the trend firmly positive," said Shah. Furthermore, Jio Financial Services, IndusInd Bank, Power Grid Corporation of India, Asian Paints, and Adani Enterprises were leading the gains among the Nifty50 constituent stocks, rising higher in the range of 4.70 per cent to 1.61 per cent. Conversely, Bajaj Finance, Dr Reddy's Laboratories, Grasim Industries, Eicher Motors, and Bajaj Finserv were among the top laggards of the benchmark constituents, trading lower in the range of 1.31 per cent to 0.95 per cent. Broader markets trade higher Among the broader markets, Nifty Midcap100 and Nifty Smallcap100 indices were trading higher by 0.70 per cent and 0.80 per cent, respectively. Himadri Speciality Chemical was the lead gainer in the space, rising higher by 13.48 per cent. Godfrey Phillips India, Adani Total Gas, Hindustan Petroleum Corporation (HPCL), and Bharti Hexacom were among other gainers in the space, trading higher by up to 6 per cent during intraday deals. Nifty Oil & Gas, PSU Bank indices outperform Nifty Oil & Gas, and PSU Bank indices were outperforming other sectoral indices as well as the benchmarks, ruling higher by 1.29 per cent, and 1.01 per cent, respectively. Adani Total Gas, Gujarat State Petronet, and Mahanagar Gas were among the gainers of Nifty Oil & Gas constituents, rising higher up to 5.6 per cent. Bank of Maharashtra, Union Bank of India, and Punjab & Sind Bank were leading among the Nifty PSU Bank index constituents, trading higher over 1 per cent each. Barring the Nifty Realty index (down 0.94 per cent), all the other sectoral indices on the NSE traded higher during intraday trade on Friday. Market breadth remains positive Market breadth remained positive, with 1,766 out of 2,754 stocks trading higher, 914 trading lower, and 74 unchanged on the NSE during the intraday deals. As many as 70 stocks were quoting at 52-week highs on the NSE, while 18 touched 52-week lows. The number of stocks hitting the upper circuit rose to 76, while 28 were hitting their lower circuit limits. The market cap of the total listed companies on the NSE stood at ₹5.31 trillion. Meanwhile, the India VIX, which gauges volatility in the markets, was trading lower by 1.13 per cent at 12.45 points.
Forbes
4 days ago
- Business
- Forbes
Billionaires Mukesh Ambani, Gautam Adani In Fuel Retailing Partnership Across India
Jio-BP gas station in Mumbai, India, on Tuesday, Oct. 26, 2021. Photographer: Dhiraj Singh/Bloomberg India's richest persons Mukesh Ambani and Gautam Adani are partnering to sell fuels through their groups' retail stations across India, deepening their collaborations in the energy sector. Under the partnership, Reliance Industries' Jio-BP will add petrol and diesel pumps at compressed natural gas (CNG) stations operated by Adani Total Gas, which will then install CNG pumps at Jio-bp's fuel stations, the companies said in a joint statement on Wednesday. 'This partnership allows us to leverage each other's strengths to further enhance the value we provide to India,' Sarthak Behuria, chairman of Jio-BP said in the statement. Adani Total Gas, a joint venture between Adani and TotalEnergies, operates over 650 CNG stations and also supplies natural gas to homes, businesses, and factories. Jio-BP, a partnership between Reliance Industries and British energy giant BP, runs more than 2,000 fuel stations across India. The two companies said their partnership will cover both existing and future fuel outlets from both groups. 'This partnership will enable us to leverage each other's infrastructure, thus enhancing customer experience and offerings,' Suresh P Manglani, CEO of Adani Total Gas said. This is the second partnership between the two conglomerates. In July 2024, Ambani's Reliance acquired a 26% stake in Mahan Energen, a unit of Adani Power for 500 million rupees ($5.8 million). The deal includes a long-term power purchase contract for 500 megawatts of electricity between the two companies. Ambani, chairman of Reliance Industries, has an estimated net worth of $119.5 billion and was ranked India's wealthiest person in Forbes Asia's list of India's 100 Richest that was published last October. Adani, chairman of the Adani Group, ranked second with a net worth of $116 billion.
Mint
5 days ago
- Automotive
- Mint
Ambani and Adani join hands to sell transportation fuel together
Mumbai: Adani Total Gas Ltd and Reliance Industries Ltd arm Jio-bp have partnered to sell auto fuel across select outlets, the companies said in a statement on Wednesday. Select ATGL outlets will sell Jio-bp's petrol and diesel, and the Jio-bp outlets will integrate ATGL's compressed natural gas (CNG) dispensing units, the statement said. 'This partnership will enable us to leverage each other's infrastructure, thus enhancing customer experience and offerings,' said Suresh P. Manglani, executive director and CEO of Adani Total Gas. This is the second time the rival billionaires have partnered, after Reliance acquired a 26% stake in an Adani Power project in Madhya Pradesh in March 2024. 'We are united by a shared vision to offer our customers a superior selection of high-quality fuels,' said Sarthak Behuria, chairman of Jio-bp. Nirav Karkera, the head of research at Fisdom, said, 'The collaboration between RIL and the Adani Group is expected to be highly synergistic, offering significant operating leverage through their combined physical presence. By providing complementary products, the partnership aims to deliver a more comprehensive customer experience. In a sector largely dominated by state-run entities, this alliance positions both groups advantageously.' The agreement covers the partners' existing and future outlets. Adani Total Gas has 650 CNG operating stations, and Jio-bp has 2,000 outlets. 'ATGL stands to benefit from the extensive Jio-BP fuel station network, while Jio-BP can expand its pincode-level reach through ATGL's infrastructure in a cost-efficient manner. The partnership is likely to be accretive for both players, enabling better margin management through station-level cost synergies,' said Karkera. Adani Total Gas is a joint venture between Adani Group and French multinational Total Energies. The company distributes natural gas to households, industries, commercial customers, and motorists. It also offers compressed biogas, electric vehicle charging, and liquefied natural gas (LNG) for the transport segment. Jio-bp, a joint venture between Reliance Industries and bp, is a mobility solutions provider in India, with a presence in fuel retailing and low-carbon alternatives. India's natural gas demand is forecast to increase by nearly 60% by 2030, driven by robust growth in city gas distribution, industrial demand and power generation, as per the International Energy Agency's latest reports. In their 2023-30 forecast period, India is projected to account for a third of global oil demand growth. Indian standalone refiners are poised to benefit meaningfully in the first quarter of FY26 as global product cracks, especially diesel and aviation turbine fuel (ATF), have surged following escalating geopolitical tensions in the Middle East, according to a June Yes Securities report. Reliance shares closed 1.2% higher at ₹ 1,467.30, and Adani Total Gas closed at ₹ 634.15 on the National Stock Exchange on Wednesday.
