Shares of this Adani Group company at all-time high, investors’ money increased by 145 percent in 2 months
Adani Wilmar was listed on 8 February 2022. The stock was listed at Rs 221 at a discount of 3 per cent. Its issue price was Rs 218-230 per share.
The stock was listed at Rs 221 at a discount of 3 per cent.
Billionaire Gautam Adani (Gautam Adani) K Adani Group company Adani Wilmar ,Adani Wilmar) shares continue to rise. This share of Adani Group has climbed to its new peak for the sixth consecutive session. BSE on Friday (BSE) but the stock rose 5 per cent to a new all-time high of Rs 543.35. Adani Wilmar’s stock opened at Rs 517.50 with a gain of 1.97 per cent today. During the trading, there was a sharp jump in the stock and reached a new peak. According to market experts, Adani Wilmar share price is supported by strong fundamentals and technical support at current levels.
Let us tell you that the stock of Adani Wilmar has gained more than 43 percent in a month, while it has gained about 30 percent in a week. Adani Wilmar was listed on 8 February 2022. The stock was listed at Rs 221 at a discount of 3 per cent. Its issue price was Rs 230 per share.
Shares up 145 percent from listing price
Adani Wilmar’s stock has given bumper returns to investors. In less than 2 months, investors’ money has more than doubled. The stock was listed on February 8 at Rs 221. Today it reached a new peak of Rs 543.35. In this way, it got a return of up to 145 percent. The stock technical indicators like RSI, MACD, Oscillators and MAS are supporting the upside on daily basis.
Gautam Adani’s Adani Group holds 50 per cent stake in Adani Wilmar. The remaining 50 percent stake is with the Wilmar Group of Singapore. This is the 7th company of Adani Group, which is listed in the stock market.
company business
This company sells edible oils under the brand name Fortune. Apart from edible oil, this company sells rice, flour and sugar under the name Fortune. In non-food products, this company sells soap, handwash and sanitizer. It is one of the largest FMCG companies in the Indian market.
Company’s excellent performance in December quarter
Adani Wilmar’s performance in the December quarter has been excellent. The company’s consolidated net profit rose 66 per cent to Rs 211.41 crore in the December quarter. With this, its net profit in the third quarter of the previous financial year was Rs 127.39 crore. The company’s total income increased to Rs 14,405.82 crore in the quarter ended December 31.
Jai Thakkar, Head of Equity Research, Marwari Financial Services, said in a Live Mint report, Adani Wilmar’s share price has continued to rise for the past few days due to the rise in commodity prices across the globe, especially palm oil. The prices of these commodities are expected to remain high for some more time. So it will continue to accelerate.
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