Shares of Adani Total Gas hit all-time high today ahead of the scrip turning ex-dividend on July 14. Adani Total has fixed July 15 as the record date to identify eligible shareholders for dividends. Payment for the dividend will be done on or after July 28.
Adani Total has announced a dividend of Re 0.25 at the rate of 25 per cent per equity share having a face value of Re 1 each fully paid up for the financial year FY22.
Sentiment around the stock was also upbeat after the Adani Group confirmed its entry into the race to acquire telecom spectrum. The spectrum will be used to create a private network to support its businesses from airports to power as well as data centres.
In reaction, Adani Total Gas stock rose 9 per cent to a record high of Rs 2,775.85 in the previous session. Other Adani Group stocks rose up to 12 per cent (Adani Green Energy) after the announcement was made on July 8, 2022.
Adani Total Gas stock hit all-time high for the second straight session today, surging 4.82 per cent intraday to Rs 2,845 against the previous close of Rs 2,714.15 on BSE.
Adani Total Gas is trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Shares of Adani Total Gas have surged 209.6 per cent in a year and gained 63.47 percent in 2022. In the last three years, the stock has zoomed 1,618.55 per cent.
A total of 0.40 lakh shares of the firm changed hands amounting to a turnover of Rs 11.03 crore on BSE. Market cap of the firm rose to Rs 3.09 lakh crore on BSE. The stock hit a 52-week low of Rs 772.95 on July 22, 2021.
The Adani Group firm reported a 44 per cent year-on-year fall in consolidated profit for the quarter ended March 2022. Net profit stood at Rs 81 crore for the quarter ended March 2022 led by the higher cost of natural gas. Profit for March 2021 quarter stood at Rs 143.73 crore.
However, revenue climbed 73 per cent Y-o-Y to Rs 1,065.5 crore during the quarter on higher volume coupled with increase in sales price. In the March 2021 quarter, revenue stood at Rs 584.48 crore.
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