1. Profit Warning: Adani Total Gas recently issued a profit warning stating that they were expecting a steep decline in their profits. This news has prompted investors to sell their shares, leading to a drop in the share price.
2. Competition: Adani Total Gas is facing increasing competition from new entrants in the market such as Reliance Industries. This has caused the company’s margins to be squeezed, leading to a fall in the share price.
3. Slowdown in Economy: The Indian economy has been facing a slowdown this year, and this has also affected Adani Total Gas’s business, leading to a decline in the share price.