Adani Total Gas soars 41% in 6 days, zooms 90% from March low; here's why

With a clear strategic road map, a strong balance sheet and dedicated team, ATGL is well positioned to support the country's transition to a gas-based economy, believes the management.

Adani Total Gas share price

 

Shares of Adani Total Gas (ATGL) extended their up move, hitting a fresh 52-week high of ₹859.70, surging 7 per cent on the BSE in Friday’s intra-day deals amid heavy volumes. 

 

The stock price of the Adani Group Company quoted higher for the sixth straight trading day, soaring 41 per cent during the period. It has zoomed 90 per cent from its three-month low of ₹453.50 touched on March 2, 2026.

 

At 10:14 AM; ATGL was quoting 4 per cent higher at ₹836.95, as compared to 0.28 per cent rise in the BSE Sensex. The average trading volumes at the counter jumped over two-fold, with a combined 20.11 million equity shares representing 1.8 per cent of total equity of Adani Total Gas changing hands on the NSE and BSE.

 

 

What’s driving Adani Total Gas stock price?

 

Given its gas distribution, ATGL is authorised in 34 geographical areas and plays a significant role in the nation’s efforts to enhance the share of natural gas in its energy mix. Of the 53 GAs, 34 are owned by ATGL and the balance 19 GAs are owned by Indian Oil-Adani Gas Private Limited (IOAGPL) – a 50:50 joint venture between Adani Total Gas and Indian Oil Corporation.

 

Further, ATGL has formed 2 wholly owned subsidiaries namely Adani TotalEnergies E-Mobility Ltd (ATEL) and Adani TotalEnergies Biomass Ltd (ATBL) for its E-Mobility and Biomass Business respectively. ATGL also formed a 50:50 joint venture, namely Smart Meter Technologies Private Limited for its gas meter manufacturing business. 

 

With resilient execution, underpinned by operational excellence and digital enablement, ATGL delivered strong double-digit growth in volumes and revenues, supported by steady EBITDA expansion.

 

For the January to March 2026 quarter (Q4FY26), ATGL’s revenue rose 16 per cent year-on-year (YoY) at ₹1,696 crore, driven by overall volume growth. Earnings before interest, tax, depreciation and amortization (EBITDA) increased by 13 per cent YoY to ₹310 crore.  The profit after tax for the quarter increased 4 per cent YoY to ₹156 crore. Q4FY26 posted 13 per cent YoY growth in volumes to 297 MMSCM.

 

Escalation of geopolitical tensions in West Asia since late February 2026 disrupted energy supply chains across the globe and led to market volatility. This resulted in higher natural gas prices; supply chain challenges compounded with currency volatility which led to increase in overall gas procurement cost during the quarter. Despite these headwinds, ATGL ensured uninterrupted gas supply across all operating geographical areas and continued to deliver growth in volumes, revenues, and EBITDA, the company said. 

 

The Government of India took several prompt steps to ensure continuity of PNG and CNG supply to end consumers; like issuing Gazette Notifications for priority gas allocation to D-PNG and CNG consumers, defining approval timelines, uniform right-of-ways and pipeline norms, and encouraging PNG adoption where PNG network has been laid. These initiatives were well reciprocated by the State Governments, ATGL said.

 

With a clear strategic road map, a strong balance sheet and dedicated team, ATGL is well positioned to support the country's transition to a gas-based economy through expanded CGD network aligned with the India's vision to raise share of natural gas in the energy basket to 15 per cent of the energy mix by 2030, the management said in the Q4 earning conference call.

 

Mirae Asset Sharekhan sees more upside on Adani Total Gas stock price

 

Adani Total Gas has undergone significant consolidation, establishing a robust base after an over 75 per cent correction from its peak of ₹4,000. The stock is currently demonstrating notable resilience, suggesting potential buying opportunities, says Muthuselvaraj of Mirae Asset Sharekhan.

 

The analyst projects a likely target of ₹1,350 in the medium term, with critical support identified at ₹610 levels.

 

"Technically, ATGL trades above all exponential moving averages, signalling a strong upward bias. Momentum indicators, specifically RSI and MACD, confirm this positive outlook with clear upward trends and a bullish crossover. Consequently, the bullish trend is anticipated to persist in the foreseeable future," explains Muthuselvaraj. CLICK HERE FOR MORE DETAILS  ==========================================  Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.