_2100_x_1470.webp "GAIL boosts IRM Energy’s domestic gas allocation by 29%, enhancing profitability outlook")
New Delhi: GAIL (India) Limited has announced a 29% increase in domestic gas allocation to IRM Energy Limited, effective from 16 January 2025. This adjustment will significantly raise the proportion of domestic gas in IRM Energy’s CNG segment from 37% to 51%, a move expected to positively influence the company's profitability.
IRM Energy, a small-cap player in the gas transmission and marketing industry, regards this increased allocation as a crucial development amidst a challenging market landscape. The company anticipates that the enhanced domestic gas supply will bolster its financial performance and competitive positioning.
Despite the positive news, shares of IRM Energy traded flat at Rs 340.60 on the Bombay Stock Exchange, reflecting a slight dip of 0.39%. The company’s stock recently reached a new 52-week low of Rs 335.50 on 10 January 2025.
The increase in domestic gas allocation marks a pivotal shift for IRM Energy. This strategic move by GAIL is set to strengthen IRM Energy’s operational capabilities and contribute to a more robust and sustainable growth trajectory.
BI Bureau
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