ATGL, a joint project between French energy company TotalEnergies and the Adani Group, signed an agreement with Shigan Quantum Technologies on Wednesday.
The date was January 3rd, 2024. This team is working together to make supply chains clean by moving toward fuels like CNG and LNG. People liked this news, and ATGL’s stock went up 10%, reaching its highest limit value.
Critical Elements of the MoU:
Developing CNG/LNG-based retrofitment solutions: This means changing old cars to use cleaner fuels, making them create less pollution.
Exploring e-mobility solutions for last-mile delivery: The team will try to use electric cars for quick deliveries, reducing emissions even more.
Investigating green hydrogen as fuel for ICE vehicles: This team will look into the chance of using hydrogen, a clean option, in regular engines that work with fire.
Market Reaction and Analyst Perspectives:
The deal and later stock boost show that people trust Adani Total Gas will stick to sustainability. They also see a chance for the company’s growth.
Experts think the stock will cost between Rs 920 and Rs 1,260 in the next month. Some people suggest making money now because things are too much.
On the other hand, there might be more up-and-down movement close by with short-term goals of Rs 1,150 and Rs 1,327.
Additional Context:
The MoU is necessary for the Adani Group right now. They recently got accused of doing something terrible by Hindenburg Research. The Supreme Court said that market watchers could not look into more things. This gave them a lot of help they needed.
This friendship matches India’s increasing attention to sustainability and the use of cleaner energy sources. The government wants to lower carbon emissions and push for clean energy. This gives firms like Adani Total Gas a big chance to grow.
Usually, the agreement between Adani Total Gas and Shigan Quantum Technologies is a significant move towards reducing carbon. It’s good for them because it helps put India in a solid position to benefit from pushing clean energy. The positive response from the market and intelligent predictions suggest this partnership could be really successful.
