Shares of Adani Total Gas were stuck near their 52-week low for one month.

Today’s share price for Adani Total Gas: On BSE, the stock hit a low of Rs 653.15 during the current session. The previous close was Rs 655.90. The value of Adani Total Gas on the market dropped to Rs 72,125 crore.

Most days in a month, shares of Adani Total Gas Ltd trade close to their 52-week low. The Adani Group stock hit a yearly low of Rs 633.35 on May 19, 2023. In the afternoon session today, it was going for Rs 656.50. Except for a brief time of seven days from May 22 to May 29 when the scrip went up to Rs 795, the stock has traded near levels close to its 52-week low. A bearish pattern on the weekly charts shows how weak the Adani Total Gas stock is. If this pattern keeps going, the stock could drop below Rs 600, said an expert.

On BSE, the stock hit a low of Rs 653.15 during the current session. The previous close was Rs 655.90. The stock price of Adani Total Gas has dropped by 71 percent in a year and 81.52 percent in 2023. On BSE, the company’s market value dropped to Rs 72,125 crore. On BSE, 0.98 lakh shares of the company changed hands, which brought in Rs 6.41 crore.

In terms of technicals, Adani Total Gas stock’s relative strength index (RSI) is 35.4, which means the stock is neither oversold nor overvalued. The one-year beta for Adani Total Gas is 1.6, which means that the stock was very volatile during that time. The 5 day, 20 day, 50 day, 100 day, and 200 day moving averages are all lower than the price of Adani Total Gas stock.

Gaurav Bissa, VP of InCred Equities, said, “Adani Total Gas, or ATGL, has had a strong reversal in the last few months. But unlike the other Adani group stocks, this one hasn’t gone up in a significant way. On the weekly charts, however, it has made a bearish cup and handle pattern, which is a bearish continuing pattern. If Rs. 630 is the last price for the week, this pattern will be triggered, and the stock could fall to Rs. 550. It’s best to get out of the position now or set a strict stop loss at Rs 630.”

Abhijeet from Tips2trades said, “On the daily charts, the Adani Total Gas stock price is bearish, and there is strong resistance at Rs 683.” For short-term goals of Rs 770-823, investors should only buy if the daily close is above the stated resistance. Help will come in at Rs 633.”

Adani Total Gas Ltd, a joint venture between the Adani group and TotalEnergies of France that sells CNG to cars and piped gas to homes, said that its net profit for the quarter that finished in March went up by 21%.

In the January-March quarter, the net profit rose by 20.74 percent to Rs 97.91 crore from Rs 81.09 crore in the same quarter last year. In Q4, business brought in Rs 1197.31 crore, up from Rs 1065.48 crore in the same quarter last year. In the December quarter, sales were worth Rs 1,185 crore.



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