Adani Total Gas Share Price can remain bullish from Rs 823 to Rs 835, know what is the sport level
Adani Total Gas Ltd. has been in the spotlight recently due to fluctuations in its share price and ongoing developments in the market. As of September 13, 2024, the share price of Adani Total Gas is around ₹805.40, reflecting a slight increase of 0.06% compared to the previous closing price. This article delves into the latest performance expectations and news surrounding the company, providing investors with a comprehensive overview.
Main Points
- 1 Current Share Price and Market Performance
- 2 Adani Total Gas Share Price Overview
- 3 Trading Volume and Market Capitalization of Adani Total Gas Share Price
- 4 Financial Performance Insights of Adani Total Gas Share Price
- 5 Revenue and Profitability
- 6 Key Financial Ratios
- 7 Recent News and Developments of Adani Total Gas Share Price
- 8 Market Reactions
- 9 Institutional Holdings and Investor Sentiment
- 10 Future Expectations of Adani Total Gas Share Price
The current share price of Adani Total Gas Ltd. is ₹805.40 as of September 12, 2024. The stock has experienced a day range between ₹798.1 and ₹812.6, indicating some volatility in trading. The 52-week range for the stock has been between ₹522.00 and ₹1,259.40, highlighting significant fluctuations over the past year.
The trading volume for Adani Total Gas has been substantial, with recent reports indicating over 3.4 million shares traded. The market capitalization stands at approximately ₹93,626 crore, placing it among the notable players in the gas distribution sector in India.
Revenue and Profitability
Adani Total Gas reported a profit of ₹177.09 crore for the quarter ending June 2024, with a total income of ₹1,155.24 crore. This reflects a steady performance, although revenue growth has been modest at around 2% year-on-year. The company’s operating margin is reported at approximately 24.68%, which is a positive indicator of its operational efficiency.
Key Financial Ratios
- Earnings Per Share (EPS): ₹6.27
- Price-to-Earnings (P/E) Ratio: 130.03
- Return on Equity (ROE): 20.09%
- Debt-to-Equity Ratio: 0.41, indicating a manageable level of debt in relation to equity.
These metrics suggest that while the company is experiencing some challenges, it maintains a healthy balance sheet and profitability.
Market Reactions
The stock market has shown mixed reactions to the performance of Adani Total Gas. Recent trading sessions have seen a decline of approximately 6.32% over the past month, with a notable drop of 24% over the last three months. This decline can be attributed to broader market trends and specific concerns related to the Adani Group as a whole.
Institutional Holdings and Investor Sentiment
There has been a positive trend in institutional holdings, which increased in the last reported quarter. This could signal confidence from institutional investors despite the stock’s recent underperformance. However, the stock’s relative strength rating is low, indicating it has been underperforming compared to its peers in the gas distribution sector.
Analysts are cautiously optimistic about the future performance of Adani Total Gas. The stock needs to break through key resistance levels to gain momentum. Technical indicators suggest that if the stock can maintain levels above ₹812, it may attract more buyers and potentially recover some of its recent losses
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
