Adani Total zooms 20%; flags supply cuts to industrial customers amid West Asia tensions; analysts share outlook

Shares of Adani Total Gas Ltd surged 20 per cent in Wednesday's trade, touching Rs 569.20. The stock saw heavy trading activity alongside the sharp price movement, with around 24.26 lakh shares changing hands on BSE. This was significantly higher than the two-week average volume of about 61,000 shares. Turnover on the counter stood at Rs 134.16 crore, taking the company's market capitalisation (m-cap) to Rs 62,601.19 crore.

The company 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.

From a technical perspective, a few analysts suggested that the counter appeared 'bullish' on charts, while one of them advised exiting at current levels.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, noted, "Adani Total has witnessed a spurt in price and volumes, suggesting a turnaround in the trend. On the levels front, Rs 510-500 is likely to be seen as a support zone with dips to augur well. While a series of resistance is placed from Rs 580-610 subzone in the near period."

According to AR Ramachandran, part-time Sebi-registered research analyst at Tips2trades, "The stock is bullish on daily charts with strong support at Rs 512. A daily close above the resistance of Rs 570 could lead to an upside target of Rs 621 in the near term."

Ravi Singh, Chief Research Officer at Mastertrust, said investors should consider exiting the stock at current levels. Singh added that traders may only look at buying the stock at lower levels for a short-term technical bounce.

As of December 2025, promoters held a 74.80 per cent stake in the company.