Shares of Adani Total Gas Ltd snapped their sharp four-day upward run in Friday’s trade. The stock was last seen trading 1.73 per cent lower at Rs 1,139. At this price, the multibagger scrip has gained 109.78 per cent in the past one month. Out of which, 53 per cent of the spike came in last five sessions. Despite the mentioned rise, the stock was down nearly 68 per cent on a year-to-date (YTD) basis.

Bourses BSE and NSE have put the securities of Adani Total under the short-term ASM (Additional Surveillance Measure) framework. Exchanges put stocks in short-term or long-term ASM frameworks to caution investors about high volatility in share prices.

All listed Adani Group stocks — including Adani Total — have logged decent gains this week after it was reported that the US government found short-seller Hindenburg Research’s allegations of corporate fraud against Indian billionaire Gautam Adani “irrelevant”.

The Adani counters saw a massive wealth erosion following a scathing attack by the US-based short seller earlier in January this year. Some of the conglomerate’s shares have regained their lost ground while a few are still in process of recovering from the said drop.

On technical charts, immediate support for Adani Total’s stock could be seen at Rs 1,050. On the higher side, resistance may be found around Rs 1,273. Two analysts suggested that investors should book profit at current levels.