Adani Group Share Price: Adani Total Gas share price surged over 7% on Friday, marking its fifth consecutive session of gains amid strong buying interest. The Adani Group stock rose as much as 7.48% to ₹694.00 apiece on the BSE.
The recent uptrend has led to a 12.5% rally in Adani Total Gas shares over the past five trading sessions.
The sharp rise in Adani Total Gas share price today was accompanied by a significant jump in trading volumes. On June 27, approximately 97 lakh shares changed hands on the stock exchanges — well above the one-week average of 21 lakh shares and the one-month average of 14 lakh shares.
Partnership with Jio-bp
Adani Total Gas on June 25 announced a partnership with Jio-bp, the operating brand of Reliance BP Mobility Limited, to offer each other’s fuels across select outlets.
Under this partnership, select Adani Total Gas fuel outlets will offer Jiobp’s high-performance liquid fuels (petrol and diesel), while select Jio-bp fuel outlets will integrate Adani Total Gas’ CNG dispensing units, within ATGL’s authorized Geographical Areas (GA).
Adani Total Gas is a joint venture of Adani and TotalEnergies, while Jio-bp is a joint venture between Reliance Industries and bp.
Adani Total Gas currently operates a network of ~650 CNG stations, while Jio-bp has a network of ~2000 outlets. The agreement covers both existing and future outlets of both partners.
Technical Outlook
Adani Total Gas share price is forming a 104-day long cup and handle pattern, with the current momentum candle already attracting volumes over 500% of the 50-day average — an early signal of strong institutional interest, said Anshul Jain, Head of Research at Lakshmishree Investments.
“This surge in volume often precedes a breakout. For the breakout to confirm, Adani Total Gas stock price must breach and sustain above the key pivot of ₹710. If successful, bulls will likely target ₹781 in the near term. The setup is mature and a sustained move above resistance will trigger fresh momentum,” Jain said.
Adani Total Gas share price has risen 1% in the past month and over 11% in the last three months. However, the Adani Group stock remains down 9% on a year-to-date (YTD) basis and has declined 24% over the past one year.
Despite the recent volatility, Adani Total Gas share price has delivered multibagger returns over the long term — rising 313% in the last five years.
At 12:35 PM, Adani Total Gas share price was trading 5.40% higher at ₹680.55 apiece on the BSE.
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