Adani Total Gas shares jumped 4% to Rs 969 on BSE driven by a 71% YoY growth in net profit to Rs 168 crore. Revenue also rose 5% YoY to Rs 1,258 crore, with a dividend recommended for FY 2023-24.
Ventura shared positive views on Adani Green Energy Ltd, Adani Total Gas Ltd, Adani Wilmar Ltd, Adani Energy Solutions Ltd. It re-initiated ‘Buy’ call on three of the four stocks.
Adani Total Gas: FPIs were seen trimming stake in this Adani group firm in the third quarter. Data showed the institutional category cut stake in Adani Total Gas by 88 basis points to 13.06 per cent for the quarter from 13.94 per cent QoQ.
Adani Total Gas share price: The stock slumped 9.97 per cent to hit a day low of Rs 1,002.25. At this price, the scrip has declined 14.47 per cent in just two sessions. Despite the mentioned fall, the counter has ascended by around 90 per cent in the past month.
Adani Total Gas share price: The stock was last seen trading 1.73 per cent lower at Rs 1,139. At this price, the multibagger scrip has gained 109.78 per cent in the past one month. Out of which, 53 per cent of the spike came in last five sessions.