Adani Total Gas resumes uptrend; up over 55% in six months

Adani Total Gas rose advanced 3.14% to Rs 2,191.40, as the scrip resumed its uptrend after a day's breather.

The scrip had declined 2.57% to end at Rs 2,124.65 yesterday.

In the past six months, the stock has gained 55.31% while the benchmark Sensex has lost 0.46% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 72.330. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 1787.26, 1751.95 and 1484.23, respectively.

Adani Total Gas is one of India's leading private players in developing city gas distribution (CGD) networks to supply piped natural gas (PNG) to industrial, commercial, domestic (residential) customers and compressed natural gas (CNG) to the transport sector.

The company's consolidated net profit slipped 9.3% to Rs 131.58 crore on a 78% jump in net sales to Rs 883.27 crore in Q3 FY22 over Q3 FY21.

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