IRM Energy Shares Surge 14% on RLNG Supply Deal with Shell
POWER & RENEWABLE ENERGY

IRM Energy Shares Surge 14% on RLNG Supply Deal with Shell

Shares of IRM Energy surged over 14 per cent on Thursday following the company’s announcement of a five-year agreement with Shell’s India unit for the supply of Regasified Liquefied Natural Gas (RLNG).

The stock reached an intraday high of Rs 303.05, marking its biggest single-day gain since April 22, 2024. However, it later moderated to trade at Rs 293.2, up 10.39 per cent, outperforming the Nifty 50 index, which rose 0.43 per cent. This rally ended a two-day decline in the company’s share price. Despite the recent jump, IRM Energy’s stock remains down 16 per cent in 2025, while the Nifty 50 has dropped by 0.27 per cent during the same period. According to BSE data, IRM Energy currently has a market capitalisation of Rs 12.11 billion.

Under the agreement, IRM Energy will procure approximately 10.23 million metric million British thermal units (MMBtu), equivalent to around 326.84 million metric standard cubic meters (mmscm) of RLNG, based on a gross calorific value of 9,500 kilocalories. This long-term supply contract is expected to enhance the company's ability to offer stable, cost-effective, and cleaner fuel solutions.

The partnership with Shell is also aligned with India's broader goals of energy security and environmental sustainability. By leveraging Shell’s expertise in LNG, IRM Energy aims to strengthen its service offerings, particularly for businesses transitioning to greener energy alternatives.

IRM Energy is a city gas distribution company operating in Banaskantha (Gujarat), Fatehgarh Sahib (Punjab), Diu & Gir Somnath (Union Territory of Daman and Diu/Gujarat), and Namakkal & Tiruchirappalli (Tamil Nadu). It supplies CNG primarily to public transport operators, as well as private vehicles including taxis, auto-rickshaws, cars, buses, and goods carriers.

News source: Business Standard

Shares of IRM Energy surged over 14 per cent on Thursday following the company’s announcement of a five-year agreement with Shell’s India unit for the supply of Regasified Liquefied Natural Gas (RLNG). The stock reached an intraday high of Rs 303.05, marking its biggest single-day gain since April 22, 2024. However, it later moderated to trade at Rs 293.2, up 10.39 per cent, outperforming the Nifty 50 index, which rose 0.43 per cent. This rally ended a two-day decline in the company’s share price. Despite the recent jump, IRM Energy’s stock remains down 16 per cent in 2025, while the Nifty 50 has dropped by 0.27 per cent during the same period. According to BSE data, IRM Energy currently has a market capitalisation of Rs 12.11 billion. Under the agreement, IRM Energy will procure approximately 10.23 million metric million British thermal units (MMBtu), equivalent to around 326.84 million metric standard cubic meters (mmscm) of RLNG, based on a gross calorific value of 9,500 kilocalories. This long-term supply contract is expected to enhance the company's ability to offer stable, cost-effective, and cleaner fuel solutions. The partnership with Shell is also aligned with India's broader goals of energy security and environmental sustainability. By leveraging Shell’s expertise in LNG, IRM Energy aims to strengthen its service offerings, particularly for businesses transitioning to greener energy alternatives. IRM Energy is a city gas distribution company operating in Banaskantha (Gujarat), Fatehgarh Sahib (Punjab), Diu & Gir Somnath (Union Territory of Daman and Diu/Gujarat), and Namakkal & Tiruchirappalli (Tamil Nadu). It supplies CNG primarily to public transport operators, as well as private vehicles including taxis, auto-rickshaws, cars, buses, and goods carriers. News source: Business Standard

Next Story
Infrastructure Urban

Development of ICT in Indian Judiciary through e-Courts Phases

The eCourts project, launched under the National eGovernance Plan in 2007, is a Mission Mode Project aimed at modernisng the Indian judiciary through the adoption of Information and Communication Technology (ICT). The initiative is grounded in the "National Policy and Action Plan for Implementation of ICT in the Indian Judiciary" and has been implemented in multiple phases. Phase I (2011–2015) focused on the computerization of judicial infrastructure and ensuring connectivity across courts. During this phase, 14,249 district and subordinate courts were computerised, and Local Area Networks ..

Next Story
Infrastructure Urban

Minority Affairs Minister to Launch PM VIKAS Project via DGSMC

On 29th March 2025, the Ministry of Minority Affairs will launch a new program under the Pradhan Mantri Virasat Ka Samvardhan (PM VIKAS) scheme, aimed at enhancing skill development and educational support for minority communities. The initiative, which will be implemented by the Delhi Sikh Gurdwara Management Committee (DSGMC), will benefit a total of 31,600 candidates across the country. Out of the total beneficiaries, 29,600 individuals will receive skill training in industry-relevant fields, while 2,000 candidates will receive educational support. The training will focus on job roles ali..

Next Story
Infrastructure Urban

DARPG and Bhashini Launch Multilingual Tool for Citizen Grievances

To enhance the effectiveness, accessibility, and responsiveness of the grievance redressal system, the Department of Administrative Reforms and Public Grievances (DARPG) has signed a Master Service Agreement with Digital India Bhashini on March 28, 2025. This agreement marks the implementation of a multimodal, multilingual e-Governance solution for the Centralised Public Grievance Redress and Monitoring System (CPGRAMS), in line with the directive of the Prime Minister of India to bring qualitative improvements to citizen service delivery. The new solution aims to empower citizens from diver..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?