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SFP RESEARCH

19th Mar · SEBI-Registered Analyst

Adani Total Gas Ltd.

ATGL
distributes PNG and CNG in multiple city gas distribution (CGD) areas. ​ It is a play on rising gas usage in transport and households as a cleaner fuel. ​ JV with TotalEnergies brings capital and technical support. ​ Risks are regulatory pricing, project execution in newly awarded GAs, and EV adoption impacting CNG. ​

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