ATGL Share Price Surges Over 8% as CNG Prices Rise for 4th Time in 11 Days


By Dalal Street Investment Journal (DSIJ)

Summary :

 

Adani Total Gas shares surged over 8% on May 26, 2026, as repeated CNG price hikes boosted sentiment around city gas distribution companies. CNG prices have now been increased four times in 11 days amid rising global energy costs and West Asia tensions. The rally also followed ATGL’s Q4FY26 results, where consolidated revenue rose nearly 17% YoY to ₹1,695 crore while PAT increased over 8% to ₹168 crore.

Adani Total Gas Share Jumps Over 8% Amid Fresh CNG Price Hikes

Adani Total Gas (ATGL) rose over 8% on Tuesday, May 26, 2026, closing at ₹713.10 on volumes of approximately 290 lakh shares, nearly six times the 30-day average volume of 47.1 lakh shares. The stock has been in focus since the company declared its Q4FY26 and full-year FY26 financial results, which showed steady volume-driven growth despite elevated gas acquisition costs.

However, the broader rally in ATGL was not driven by quarterly results alone. The stock moved in tandem with other city gas distribution companies, including Indraprastha Gas and Mahanagar Gas, all of which gained on Tuesday after CNG prices were hiked for the fourth time in eleven days. The rally in these stocks also lifted the Nifty Oil & Gas index by as much as 0.45%.

CNG Price Hikes: The Main Driver Behind the Rally

The rally in Adani Total Gas stock comes on the back of a consecutive series of domestic CNG price hikes, favourable government allocation policies, and strong Q4 financial results.

CNG prices have been hiked four times in just two weeks due to rising global energy costs and geopolitical tensions in West Asia. Effective 6 AM on May 26, CNG prices in Delhi were revised upward to ₹83.09 per kg, up from ₹81.09 per kg. This followed a ₹1 per kg hike on May 23, a ₹2 per kg revision on May 15, and a ₹1 per kg hike on May 17 — taking the cumulative increase to ₹5 per kg in Delhi over the period.

Adani Total Gas Limited

Trade

713.153.94 (8.18 %)

Updated - 26 May 2026
731.40day high
DAY HIGH
656.50day low
DAY LOW
29037457
VOLUME (BSE)

IGL, North India's largest city gas distributor, raised CNG prices by ₹2 per kg on May 26 after earlier hikes of ₹1 per kg each on May 23 and May 17, and ₹2 per kg on May 15. Cumulatively, IGL has increased CNG prices by ₹6 per kg since May 15. Rates in Noida, Greater Noida, and Ghaziabad reached ₹88.70 per kg. In Mumbai, CNG now costs ₹84 per kg.

The latest CNG price hike comes amid high volatility in global energy prices, as uncertainty around the US-Iran war and the Strait of Hormuz continues. Brent Crude oil prices are already trading above $100 per barrel, which is weighing heavily on oil-importing countries like India.approximately 36% during Q4FY26, down from 41% in the previous quarter, with the shortfall met through existing contracts and spot procurement.

Petrol, Diesel and CNG Prices in Major Cities as on May 26, 2026

City

Petrol

Diesel

CNG

Mumbai

₹111.2 per litre

₹97.8 per litre

₹81 per kg

Delhi

₹102.1 per litre

₹95.2 per litre

₹83.09 per kg

Kolkata

₹113.4 per litre

₹99.8 per litre

₹93.5 per kg

Chennai

₹107.8 per litre

₹99.6 per litre

₹91.5 per kg

For city gas distribution companies, multiple price hikes in a short span typically improve near-term margin outlook, since the cost of gas procurement — which has been rising — can be partially passed on to consumers. That expectation is what pulled these stocks higher on Tuesday.

Q4FY26: Key Financial Numbers of Adani Total Gas

For the quarter ended March 31, 2026, Adani Total Gas reported consolidated revenue from operations of ₹1,695 crore, up 16.7% YoY from ₹1,453 crore in Q4FY25, and up 3.4% QoQ from ₹1,639 crore in Q3FY26. Profit before tax was ₹227 crore, against ₹204 crore in Q4FY25.

Consolidated PAT for Q4FY26 stood at ₹168 crore, up 8.4% YoY from ₹155 crore in Q4FY25, and up 5.7% QoQ from ₹159 crore in Q3FY26.

New Business Segments of Adani Total Gas

Beyond its core city gas operations, ATGL has been building out adjacent businesses. Adani TotalEnergies E-mobility Limited (ATEL) expanded its EV charging footprint to 5,100 installed points across 26 states and 226 cities, with installed capacity reaching approximately 54 MW. Adani TotalEnergies Biomass Limited (ATBL) sold 1,654 metric tonnes of Compressed Bio-Gas in FY26, while Fermented Organic Manure sales crossed 1,500 tonnes, with Q4 sales running 50% higher than the combined first three quarters.

About Adani Total Gas Ltd

Adani Total Gas Limited is one of India's largest city gas distribution companies, operating across multiple geographical areas through its CNG and PNG networks. The company is a joint venture between the Adani Group and TotalEnergies of France. Its business covers the distribution of compressed natural gas to vehicles and piped natural gas to households, commercial establishments, and industrial units. Beyond the core city gas business, the company has been expanding into adjacent segments including EV charging infrastructure through Adani TotalEnergies E-mobility Limited and compressed bio-gas through Adani TotalEnergies Biomass Limited. 

Source: Dalal Street Investment Journal (DSIJ), TradingView, BSE

About the Author

SEBI Registered Research Analyst (INH000006396).


Founded in 1986, Dalal Street Investment Journal (DSIJ) brings decades of experience in India’s equity markets. DSIJ's research combines fundamental analysis with price action, guided by disciplined risk management and capital preservation. They follow a structured, data-driven approach designed to help investors and traders make informed decisions beyond short-term market noise. 

Published Date : 26 May 2026

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Content Partner - Dalal Street Investment Journal Wealth Advisory Private Limited



This article is for educational purposes only and should not be considered investment advice. Market investments are subject to risks. DSIJ Wealth Advisory Private Limited is a SEBI-registered Research Analyst (Reg. No: INH000006396) and Investment Adviser (Reg. No: INA000001142). Please consult your financial adviser before investing. 

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