Adani Enterprises, NTPC shares in focus amid India’s coal gasification push; what investors need to know

“The Round 1 of the ₹37,500 crore Scheme for Promotion of Surface Coal/Lignite Gasification Projects has closed to an overwhelming response from industry, with seven (7) applications received from some of India's largest corporate houses and premier public sector undertakings,” the Ministry of Coal said in a Press Information Bureau (PIB) release.

The coal and lignite gasification projects are large-scale, capital-intensive investments that require extensive preparatory work, including pre-feasibility studies, technology assessments, environmental considerations and detailed financial planning.

From the seven applications the government received under round one of the scheme, three were from Adani Enterprises, one was from Gallantt Ispat Ltd, another was from NTPC, one was from Shyam Sel & Power, and another was from Talcher Fertilisers.

Data: PIB, Ministry of Coal

The Ministry of Coal had issued the request for proposal (RFP) on July 7, 2026, it said, adding that the projects have the potential to contribute significantly to the development of a “robust” domestic coal gasification ecosystem, with eight gasification projects already under implementation under the earlier ₹8,500 crore Financial Incentive Scheme.

The government further stated that the applications it received under round one will undergo detailed evaluation in accordance with the scheme guidelines and the RFP.

The Ministry also announced the opening of the second round of the scheme from September 8, 2026.

In accordance with the RFP, the application windows will continue to open at two-month intervals, providing regular opportunities for eligible entities to participate.

“Several prospective applicants are presently at advanced stages of project preparation and are expected to submit proposals in forthcoming rounds,” it said.

About the scheme

The scheme is designed to promote the conversion of domestic coal and lignite into higher-value products such as syngas, methanol, ammonia, urea and hydrogen.

It also aims to reduce India's dependence on imports of LNG, urea, ammonia and methanol, which together accounted for approximately ₹2.77 lakh crore in imports during FY 2024-25.

It will also support the national objective of achieving 100 million tonnes of coal gasification capacity by 2030, including the development of 75 million tonnes of capacity under the scheme.

Additionally, the scheme will also help to catalyse investments estimated at ₹2.5-3 lakh crore and generate substantial direct and indirect employment opportunities across the value chain.

The scheme builds on the National Coal Gasification Mission and the ₹8,500 crore scheme approved in January 2024, under which eight projects are currently under implementation, the government stated.

Here is how the stocks are performing on September 8:

Shares of Adani Enterprises were trading in the red on the National Stock Exchange (NSE) on Tuesday, September 8, as they fell by as much as 1.1% to hit an intraday low of ₹2,918 apiece.

However, during the afternoon session, the stock jumped as much as 0.64% to hit an intraday high of ₹2,968.80 apiece, before slipping into negative territory again.

At around 2:03 PM, the scrip was trading 0.27% lower at ₹2,942 per equity share. The stock has climbed 3% in the past week but lost more than 2% over the month. On a year-to-date (YTD) basis, it has advanced 30%.

While the shares hit a 52-week high of ₹3,245 apiece on July 6, 2026, they touched a year’s low of ₹1,753 per unit on March 30, 2026.

The stock of NTPC declined as much as 1% to touch the session’s low of ₹328.65 per equity share on the NSE on Tuesday, September 8. At the time of writing, it stood at ₹331.85 per unit, down by 0.05%.

The shares have risen over 1% in the past week but fallen 3% over the month. YTD, they have jumped nearly 2%.

While the scrip hit a 52-week high of ₹414.40 per equity share on April 27, 2026, it touched a year’s low of ₹315.55 apiece on December 9, 2025.

Gallantt Ispat shares dropped as much as 2.8% to hit an intraday low of ₹556.30 apiece on the NSE. It was trading 1.63% lower at ₹563.10 per unit at the time of writing.

While the stock surged 2% in the past week, it declined 7% over the month. On a YTD basis, it has risen more than 4%.

The scrip hit a 52-week high of ₹948 per equity share on April 16, 2026, and a year’s low of ₹496.25 apiece on December 18, 2025.