News: In 11th bidding round for CGD licenses that offered 65 geographical areas (GAs), Adani Total Gas won 14 licenses. It was followed by IOC (9) and BPCL (6). HPCL, Gail Gas and Indraprastha Gas won license for one GA each.
Views: IOC is planning to invest Rs.7000 crore in its new GAs whereas ATGL will be one of largest CGD companies with a total of 33 GAs on standalone basis. Licensing of additional areas is a positive development for companies in our coverage universe and it gives potential for long term sales volume growth .
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