Adani Group: Now the decline will stop! This stock of Adani Group got good news after 80% fall in price – adani total gas to start operations at dhamra terminal by mid-June
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The commissioning of the Dhamra terminal will give a boost to the use of gas in the eastern states. It is the country’s second import terminal on the east coast. There are five import terminals on the west coast. French giant TotalEnergies SE has a 50 per cent stake in Adani Total. The safety checks and testing of Dhamra terminal is expected to be completed this month itself. The company says that all regulatory approvals have been received for this. The company says it is expected to get 2.2 million tonnes of NLG at the Dhamra terminal by March next year. Adani Total has contracted to supply 3 million tonnes of LNG per year to state-owned Indian Oil Corporation and 1.5 million tonnes to GAIL for 20 years.
Shares fell by more than 80 percent
Shares of Adani Total Gas have fallen more than 80 per cent in the last one month. This stock has been touching the lower circuit continuously for the last several days. It was at Rs 3998.50 on January 23, which was its highest level in 52 weeks. On Friday, it again closed at Rs 753.60, down five per cent. In this way it has declined by Rs 3244.9. In the report of Hindenburg Research, which came on January 24, Adani Group companies have been accused of manipulation of shares. However, Adani Group has denied these allegations. But this has led to a huge fall in the shares of the group.
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