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 Transport

India’s Maha Kumbh of Road Construction

The RAHSTA Forum 2025, held on June 25 at Courtyard by Marriott, Mumbai, delivered powerful insights and dialogue on the future of India’s roads and highways sector. Organised by the FIRST Construction Council, the Forum served as the curtain-raiser to the much-anticipated RAHSTA Expo 2025, set to take place on 3rd and 4th September at the Jio Convention Centre, Mumbai.Union Minister of Roads Transport & Highways Shri Nitin Gadkari, while appreciating the efforts of FIRST Construction Council and ASAPP Info Global Group, commended the awards which recognise excellence across various..

Next Story
Real Estate

Built to Last, Designed to Impress

The construction and interior design industries stand at the confluence of functionality and aesthetics, where innovation powers the creation of enduring structures and inspiring spaces. At the heart of this process are materials and solutions that enable architects, designers, and builders to realise their visions with precision and reliability.Featuring iconic brands such as Fevicol—synonymous with adhesive solutions—Dr. Fixit, a complete waterproofing system renowned for addressing every critical area of construction, and Roff, a specialist in tile-fixing solutions, Pidilite has earned ..

Next Story
Infrastructure Energy

New Push to Cut India’s Air Pollution through Power Sector Reforms

In a significant stride toward environmental sustainability, Cummins India introduced CPCB IV+ compliant gensets to India on July 5, 2023, marking a paradigm shift in the power generation industry. These generators are engineered to adhere to the progressive emission norms set by the Ministry of Environment, Forest, and Climate Change. Being the first sets in the field, they have garnered praise for their remarkable achievements in emissions reduction and cutting-edge technology. Powerica, with its four-decade-long partnership with Cummins India Limited, is dedicated to consistently deliver th..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?