Shares of Adani Total Gas Ltd. (ATGL) surged 14% on Thursday with the stock trading at Rs 639.70 apiece. The stock saw a surge after the government issued a notification, prioritising gas allocation to key sectors.
The total traded volume so far in the day stood at 1.06 times its 30-day average. The relative strength index was at 72.75.
Adani Total Gas, in its regulatory filing, said that recent geopolitical developments in the Middle East have led some of its gas suppliers to curtail supply, which has impacted the company's ability to supply gas to certain industrial customers.
The company's stock rallied owing to confirmation that the government would prioritise natural gas supplies for critical sectors, including households and transportation. Adani Total Gas is among the major suppliers of domestic piped natural gas (PNG) and compressed natural gas (CNG), making it a key beneficiary of this policy shift.
According to the new notification, several categories will now fall under priority allocation for natural gas. These include domestic PNG, CNG for transport, LPG production, and essential pipeline operations such as compressor fuel requirements.
Adani Total Gas Share Price Today
Adani Total Gas Share Price
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How Other Gas Companies Fared
- Shares of Mahanagar Gas Ltd. fell as much as 3.74% with the stock trading at Rs 1,039.90 apiece intraday. The total traded volume so far in the day stood at 0.30 times its 30-day average. The relative strength index was at 29.86.
- Gujarat Gas Ltd.'s shares rose 9.57% with the stock trading at Rs 411.95. The total traded volume so far in the day stood at 0.77 times its 30-day average. The relative strength index was at 48.63.
- Shares of Petronet LNG Ltd. rose marginally 0.76 with the stock trading at Rs 290.60 apiece.
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