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8 Halal Stocks in the Utilities Sector of India

Utilities Sector

The utilities sector encompasses companies that provide essential services, including electric power, natural gas, water supply, and sewage removal. In this blog, we provide 8 Halal stocks that belong to the Indian utilities sector.

 

1. Gail (India) Ltd (GAIL.NS)

Gail (India) Ltd. engages in the exploration, production, processing, transmission, distribution, and marketing of natural gas. 

Market capitalization: 1.43T INR

Risk level: Low risk – the stock is 0.92x as volatile as the NIFTYBEES.NS

Shariah compliance status: Halal (based on the fiscal 2024 annual report)

2. Adani Energy Solutions Ltd (ADANIENSOL.NS)

Adani Transmission Ltd. is involved in establishing, commissioning, setting up, operating, and maintaining electric power transmission systems.

Market capitalization: 1.14T INR

Risk level: Low risk – 0.92x as volatile as the NIFTYBEES.NS

Shariah-compliance status: Halal (based on the fiscal 2024 annual report)

3. Adani Total Gas Ltd (ATGL.NS)

Adani Total Gas Ltd. operates as a gas distribution company. The firm develops city gas distribution networks to supply piped natural gas to industrial, commercial, and domestic (residential) customers and compressed natural gas to the transport sector. 

Market Capitalization: 1.05T INR

Risk level: Moderate risk – the stock is 1.13x as volatile as the NIFTYBEES.NS

Shariah compliance status: Halal (based on the fiscal 2024 annual report)

4. Gujarat Gas Ltd (GUJGASLTD.NS)

Gujarat Gas Ltd. is engaged in city gas distribution, including the sale, purchase, supply, distribution, transport, and trading of natural gas, compressed natural gas (CNG), liquefied natural gas (LNG), liquefied petroleum gas (LPG), and other gaseous forms through pipelines, trucks/trains or such other suitable mode for transportation/distribution of natural gas, CNG, LNG, LPG, and other gaseous forms. 

Market capitalization: 420.50B INR

Risk level: Low risk – the stock is 0.78x as volatile as the NIFTYBEES.NS

Shariah compliance status: Halal (based on the fiscal 2024 annual report)

5. Indraprastha Gas Ltd (IGL.NS)

Indraprastha Gas Ltd. distributes natural gas to domestic, transport, and commercial consumers.

Market capitalization: 334.01B INR

Risk level: Low risk – the stock is 0.93x as volatile as the NIFTYBEES.NS

Shariah compliance status: Halal (based on the fiscal 2024 annual report)

6. Gujarat State Petronet Ltd (GSPL.NS)

Gujarat State Petronet Ltd. engages in gas transportation through pipelines. The firm also implements and operates City Gas Distribution and generates electricity through Windmills.

Market capitalization: 168.92B INR

Risk level: Low risk – the stock is 0.77x as volatile as the NIFTYBEES.NS

Shariah compliance status: Halal (based on the fiscal 2024 annual report)

7. Mahanagar Gas Ltd (MGL.NS)

Mahanagar Gas Ltd. operates as a distributor of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai, Thane and Raigad districts of Maharashtra. 

Market capitalization: 142.81B INR

Risk level: Low risk – the stock is 0.84x as volatile as the NIFTYBEES.NS

Shariah compliance status: Halal (based on the fiscal 2024 annual report)

8. Va Tech Wabag Ltd (WABAG.NS)

VA Tech Wabag Ltd. engages in the design, supply, installation, and operational management of drinking water and wastewater treatment plants.

Market capitalization: 69.67B INR

Risk level: Moderate risk – the stock is 1.05x as volatile as the NIFTYBEES.NS

Shariah compliance status: Halal (based on the fiscal 2024 annual report)

Note: Shariah-compliance status provided above is based on Musaffa Shariah screening using AAOIFI standards. The compliance status of stocks may change based on the screening of subsequent financial results.

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