Adani Total Gas and Adani Power Shares Decline on Profit Booking After Sharp Rally

Shares of Adani Total Gas and Adani Power witnessed a notable decline on Tuesday, September 23, 2025, as investors booked profits following a sharp surge in both counters over the past few sessions.

Adani Total Gas Pulls Back After 19% Surge

On the Bombay Stock Exchange (BSE), Adani Total Gas stock price dropped by over 7%, touching an intraday low of ₹741.35. This decline came right after the stock had gained nearly 19% on Monday, making it one of the top performers among Adani Group companies.

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The Monday rally in Adani Total Gas significantly contributed to a sharp rise in the overall market capitalisation of the Adani Group, which jumped by nearly ₹1.7 lakh crore over just two trading days. This surge followed encouraging news that the Securities and Exchange Board of India (SEBI) gave a clean chit in the long-standing Hindenburg Research allegations involving stock manipulation.

The positive regulatory outcome triggered renewed buying interest across the Adani Group stocks. However, after such a sharp run-up, some investors chose to lock in gains, leading to Tuesday's correction.

Adani Power Faces Profit Booking Post 35% Rally

Similarly, Adani Power shares also declined sharply on the same day, dropping nearly up to 5% to a day’s low & cllsing at of ₹162.35 on the National Stock Exchange (NSE). This decline followed a massive 35% rally over the past three trading sessions, partly driven by the company’s recent 1:5 stock split and favourable analyst commentary.

The recent rally in Adani Power had been supported by positive sentiment after the stock split and bullish views from brokerage firms. The clean chit from SEBI also played a key role in lifting investor sentiment. However, the steep rally prompted a wave of profit-taking as investors cashed in on the gains.

Market Analysts Cite Normal Correction

The correction in both Adani Total Gas and Adani Power is widely seen as technical and expected, especially after such rapid upward movements. Market analysts noted that while the broader outlook for the group remains optimistic, short-term fluctuations are likely due to profit booking and market volatility.

Conclusion

Adani Power and Adani Total Gas are still much higher than they were earlier this month, even with Tuesday's drops.  The market's perception of the Adani Group has improved as a result of recent events, such as SEBI's clean sheet, but short-term price fluctuations may still occur as investors reposition themselves.