IRM Energy Shares Surge 14% After Securing RLNG Supply Agreement with Shell
- Stock Performance: IRM Energy’s stock soared 14.1%, reaching ₹303.05 per share, marking its biggest intraday gain since April 2024. However, gains were later trimmed to 10.39%, with shares trading at ₹293.2.
- Contract Details: The surge followed the announcement of a five-year contract with Shell’s India unit for the supply of Regasified Liquefied Natural Gas (RLNG). The company will purchase 1.23 crore metric MMBtu, or approximately 327 million cubic meters of gas, at a 9,500 k/cal Gross Calorific Value.
- Strategic Growth: The partnership with Shell is seen as a milestone for IRM Energy, providing stable and cost-effective energy solutions, and supporting India’s energy security and sustainability objectives.
- Market Impact: Despite this positive news, the stock has fallen 16% in 2025 so far, while the Nifty 50 has seen a slight decline of 0.27%.
- Company Overview: IRM Energy operates in the city gas distribution sector, providing natural gas to various regions in India, including Gujarat, Punjab, and Tamil Nadu. Its CNG services support public and private transport, as well as goods vehicles.
