Adani Total Gas Shares Fall Over 12% In Two Sessions After Recent Rally

Shares of Adani Total Gas declined more than 12% across two trading sessions through March 15 as the stock corrected following a sharp rally earlier in the week.

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The stock dropped as much as 5.6% during intraday trade on March 15 to a low of ₹532 on the BSE. The decline followed a 6.8% fall recorded in the previous trading session on March 13, according to exchange data.

The recent decline reversed part of the strong gains seen earlier. The stock had surged nearly 30% between March 10 and March 12.

Exchange Seeks Clarification On Price Movement

Earlier, stock exchanges sought clarification from Adani Total Gas regarding the sharp movement in its share price.

In a response to the exchange dated March 13, the company said the price movement in its shares was driven by market conditions.

The company stated that the management had no specific information or control regarding the reasons behind the significant movement in its stock price.

Industrial Gas Price Cut Announced

Over the weekend, Adani Total Gas also announced a reduction in the price of excess natural gas supplied to select industrial customers.

The company lowered the price to ₹82.95 per standard cubic metre from ₹119.90 per standard cubic metre. According to the company, the revised price came into effect at 6:00 AM on March 16.

The change followed a softening in upstream gas prices, even as supply disruptions continued in global energy markets.

Government Gas Supply Order

The stock had rallied earlier after the government issued the Natural Gas (Supply Regulation) Order, 2026, which prioritises natural gas supply to essential segments.

The order prioritises gas supply for domestic piped natural gas users and compressed natural gas used in the transport sector. Allocations will remain at 100% of the average consumption recorded over the previous six months, subject to operational availability.

The government order has also specified that the companies involved in the production, import, marketing, and transportation of natural gas are required to adhere to the new supply schedule, which has been coordinated by GAIL (India) and the Petroleum Planning and Analysis Cell.

The supply adjustments have been made in the wake of geopolitical developments in West Asia between the United States, Israel, and Iran.

Stock Performance And Market Context

After the recent correction, the stock of Adani Total Gas is trading at a discount of over 33% to its 52-week high of ₹797.40, touched in September 2025.

The stock had touched its 52-week low of ₹453.50 on March 2, 2026.

According to stock exchange data, the stock has slipped by 11% in the past one year, 12% in the past six months, and 9% in the past three months.