Adani Power, Adani Enterprises, Adani Ports: Adani Group Stocks Rise Up To 20%; Know Why

Last Updated: April 01, 2024, 13:03 IST

Shares of Adani Total Gas rallied 8 per cent on Monday, April 1, after the company announced commencing production at Barsana Biogas plant phase 1, located in the Mathura district of Uttar Pradesh.

The Barsana Biogas Project has three project phases and would attain the overall capacity of 600 tons per day (TPD) of feedstock, generating over 42 TPD of Compressed Bio Gas (CBG) and 217 TPD of organic fertiliser upon full commissioning, Adani Total Gas said.

“This plant will be India’s largest agri waste-based bio-CNG plant upon reaching full design capacity at phase-3,” the company added.

The cost for all three project phases for the Barsana Biogas plant would be in excess of Rs 200 crore. This is ATBL’s first CBG production facility. In addition to producing CBG, the plant yields organic fertiliser.

Adani Total Gas shares opened on the BSE on Monday at Rs 947 apiece, showing a 2.4 per cent rise from its previous closing of Rs 925.45. The bullish trend continued as the stock surged by around 8 per cent to touch an intraday high of Rs 1,000 per share. The gain has pushed the company’s market capitalisation to over Rs 1 lakh crore.

Additionally, the stock has seen an impressive surge of over 80 per cent from its 52-week low of Rs 521.95 on the BSE.

Adani Total Gas informed the bourses that the plant will produce over 42 TPD of Compressed Bio Gas (CBG) and 217 TPD of organic fertiliser at full operation.

Upon completion of phase 3, this plant will become India’s largest agri waste-based bio-CNG facility. The total project cost for all three phases of the Barsana Biogas plant exceeds Rs 200 crore.

This represents the company’s inaugural CBG production facility. The facility transforms organic matter into renewable biogas by implementing cutting-edge anaerobic digestion technology, thereby mitigating greenhouse gas emissions and diminishing dependence on fossil fuels.

Additionally, this initiative contributes to the nation’s objectives of bolstering fuel security and reducing emissions.

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By jaghit

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