Adani Total recently informed exchanges that some of its gas suppliers have curtailed supply following the escalation in geopolitical developments in West Asia.Shares of Adani Total Gas Ltd (ATGL) extended their decline for the second consecutive session on Monday. The stock was last seen trading 7.41 per cent lower at Rs 522.10.
Bourses BSE and NSE have placed the securities of Adani Total Gas under the short-term ASM (Additional Surveillance Measure) framework. Exchanges typically place stocks under short-term or long-term ASM frameworks to caution investors about heightened volatility in share prices.
The company also clarified regarding the recent stock price movement, stating that it is "purely due to market conditions and absolutely market driven."
Earlier, Adani Total informed exchanges that some of its gas suppliers have curtailed supply following the escalation in geopolitical developments in West Asia. The company said the reduction has impacted supplies to its industrial customers.
This development comes after the government last week issued an order prioritising the allocation of domestic gas for piped natural gas (PNG) and compressed natural gas (CNG) used in the transport segment. In an exchange filing, Adani Total said it is currently assessing the impact of the Centre's order and taking necessary steps to mitigate any potential impact.
From a technical perspective, the Rs 500–512 zone is expected to act as a key support area, while immediate resistance is seen at Rs 555.
According to AR Ramachandran, a Sebi-registered research analyst at Tips2trades, "Adani Total Gas' stock is bearish on daily charts with strong resistance at Rs 604. A daily close below the support of Rs 512 could trigger a fall towards Rs 463 in the near term."
Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, noted, "Support is seen at Rs 500, while resistance is placed at Rs 555. A decisive move above Rs 555 could push the stock towards Rs 578, with the expected short-term trading range pegged between Rs 500 and Rs 578."
As of December 2025, promoters held a 74.80 per cent stake in the company.
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