Adani Total Gas shares surge 33% in 3 days; analysts 'divided' on outlook
The company recently informed the bourses that, in view of the recent escalation in geopolitical developments in West Asia, some of Adani Total's gas suppliers have curtailed supply, which in turn has impacted supplies to its industrial customers.
- Mar 12, 2026,
- Updated Mar 12, 2026 1:12 PM IST
Shares of Adani Total Gas Ltd continued to rise for the third consecutive session in Thursday's trade. At last check, the stock was trading 9.59 per cent higher at Rs 623.80, taking its three-day gain to 33.39 per cent.
The company recently informed the bourses that, in view of the recent escalation in geopolitical developments in West Asia, some of Adani Total's gas suppliers have curtailed supply, which in turn has impacted supplies to its industrial customers.
This comes after the government on Monday issued an order prioritising the allocation for domestic piped natural gas (PNG) and compressed natural gas (CNG) for transport. Adani Total, in an exchange filing, said it is currently assessing the impact of the Centre's order and is taking necessary steps to mitigate the impact.
A few analysts remained largely 'divided' on the counter, with one suggesting existing investors hold their positions, while another pointed to the recent pullback as a selling opportunity. That said, another analyst mentioned that support for Adani Total could be seen at Rs 570.
Kranthi Bathini, Equity Strategist at WealthMills Securities, said Adani Total has been witnessing increased focus on domestic supply amid the ongoing West Asia conflict.
"At present, we are seeing strong buying interest in the stock. Existing investors can consider holding on to their positions," he added.
In contrast, Kunal Kamble, Senior Technical Research Analyst at Bonanza, said the recent sharp rally in the stock appears to be a pullback within a broader downtrend and should be viewed as a selling opportunity.
"On the weekly charts, the stock continues to trade below its long-term declining trendline, which indicates persistent structural weakness. The recent bounce has also approached a key resistance zone of around Rs 650–700, where supply is likely to emerge. Momentum indicators further suggest that the move is more of a short-covering rally rather than a sustainable trend reversal," he also said.
Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, noted, "Support is seen at Rs 570, while resistance is placed at Rs 651. A decisive move above Rs 651 could push the stock towards Rs 685, with the expected short-term trading range pegged between Rs 570 and Rs 685."
As of December 2025, promoters held a 74.80 per cent stake in the company.
Shares of Adani Total Gas Ltd continued to rise for the third consecutive session in Thursday's trade. At last check, the stock was trading 9.59 per cent higher at Rs 623.80, taking its three-day gain to 33.39 per cent.
The company recently informed the bourses that, in view of the recent escalation in geopolitical developments in West Asia, some of Adani Total's gas suppliers have curtailed supply, which in turn has impacted supplies to its industrial customers.
This comes after the government on Monday issued an order prioritising the allocation for domestic piped natural gas (PNG) and compressed natural gas (CNG) for transport. Adani Total, in an exchange filing, said it is currently assessing the impact of the Centre's order and is taking necessary steps to mitigate the impact.
A few analysts remained largely 'divided' on the counter, with one suggesting existing investors hold their positions, while another pointed to the recent pullback as a selling opportunity. That said, another analyst mentioned that support for Adani Total could be seen at Rs 570.
Kranthi Bathini, Equity Strategist at WealthMills Securities, said Adani Total has been witnessing increased focus on domestic supply amid the ongoing West Asia conflict.
"At present, we are seeing strong buying interest in the stock. Existing investors can consider holding on to their positions," he added.
In contrast, Kunal Kamble, Senior Technical Research Analyst at Bonanza, said the recent sharp rally in the stock appears to be a pullback within a broader downtrend and should be viewed as a selling opportunity.
"On the weekly charts, the stock continues to trade below its long-term declining trendline, which indicates persistent structural weakness. The recent bounce has also approached a key resistance zone of around Rs 650–700, where supply is likely to emerge. Momentum indicators further suggest that the move is more of a short-covering rally rather than a sustainable trend reversal," he also said.
Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, noted, "Support is seen at Rs 570, while resistance is placed at Rs 651. A decisive move above Rs 651 could push the stock towards Rs 685, with the expected short-term trading range pegged between Rs 570 and Rs 685."
As of December 2025, promoters held a 74.80 per cent stake in the company.