Adani Total Gas shares hit 52-week low; company issues clarification on 'US regulator report'

Shares of Adani Total Gas Ltd fell sharply on Friday, sliding 7.55 per cent to hit a one-year low of Rs 507. The stock eventually ended the session 5.71 per cent lower at Rs 517.10. At the current level, the stock is down 17.40 per cent over the past six months.

The recent decline came after a media report related to a US regulator, following which the company issued a clarification. Referring to a news report titled "US regulator seeking measures to serve Gautam, Sagar Adani legal summons," Adani Total Gas said, "In this regard, we request you to please refer to our response dated November 21, 2024 to the clarification sought on the news item appearing in media/publication. There are no allegations made against the Company in, and the Company is not party to, these proceedings."

The company further stated, "The content of the Press Report does not trigger any disclosure requirements under Regulation 30 read with Schedule III of SEBI Listing Regulations."

In terms of earnings, Adani Total posted an 11.4 per cent year-on-year (YoY) increase in its consolidated net profit for the third quarter ended December 31, 2025. The Gautam Adani-led city gas distribution firm posted a profit of Rs 158.65 crore during Q3 FY26, compared to Rs 142.38 crore in the corresponding period last year.

Revenue from operations climbed 17 per cent YoY to Rs 1,639.22 crore against Rs 1,400.88 crore reported in Q3 FY25.

From a technical perspective, select analysts pointed to continued weakness in the stock's chart structure.

Drumil Vithlani, Technical Analyst at Bonanza, said, "Adani Total Gas remains entrenched in a long-term downtrend, trading well below its falling EMAs. The price continues to respect the downward-sloping trendline, highlighting persistent selling pressure at higher levels. Recent candles show weak recovery attempts, which are quickly sold into near the 9 and 21 EMAs. The counter is reflecting bearish momentum and limited buying strength, though minor technical bounces cannot be ruled out. The Rs 515–500 zone acts as immediate support, while resistance is placed near Rs 555–575. Until the stock reclaims key EMAs with volume, the overall bias stays negative."

According to AR Ramachandran, part-time Sebi-registered research analyst at Tips2trades, "Adani Total's stock is bearish on daily charts with strong resistance at Rs 555. A daily close below the support of Rs 507 could lead to a downward target of Rs 453 in the near term."

Ravi Singh, Chief Research Officer at Mastertrust, said, "The stock's chart structure is weak and can touch Rs 480 level. Investors may exit on any bounce."

Meanwhile, Indian equity benchmarks were closed today on account of Republic Day. The indices will resume action on Tuesday at their usual hours.