Adani Wilmar got a strong profit of 211 crores, the shares are also giving a return of 70 percent, what is the estimate next?

This share of Adani Group had fallen 25% from the record high, today there was an upper circuit of 10%, know the details

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Adani Wilmar share price: Shares of Adani Wilmar (Adani Wilmar, NS: APSE) of Adani Group, which makes Fortune oil in the country, have seen a strong recovery from lower levels today. There is an upper circuit of 10 percent in the shares of the company today. Today on Wednesday, the shares of Adani Wilmar are trading at Rs 345 after the upper circuit hit the NSE.

In the same month, the company’s shares had fallen 25 percent from their record high. Its share price on 11 February 2022 was Rs 419.9. Yesterday, on Tuesday, February 22, the price of its shares was closed at Rs 314. Today it has increased by 10 percent i.e. 31.40 points to Rs 345.

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After getting listed on NSE on February 8, 2022 at Rs 227/share, this FMCG stock has given returns of more than 85% to investors within 10 days.

The company was listed this month
Adani Wilmar’s IPO came only last month. For its Rs 3,600 crore IPO, the company had fixed a price band of Rs 218-230 per share. This means that the investors who have been allotted IPO, they will have shares of the company at a price of up to Rs 230. The company’s IPO opened on January 27 and closed on January 31. Adani Wilmar was listed in the stock market on 8 February.

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Coming to Adani Wilmar, there is a 50:50 joint venture between the Adani Group and the Singapore-based Wilmar Group. Adani Wilmar, which sells cooking oil and some other food products under the Fortune brand, is Gautam Adani’s 7th company to be listed on the stock exchange.

Group’s seventh company
After listing, it is the seventh company of Adani Group to be listed in the domestic market. Adani Group’s six companies are Adani Enterprises, Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas and Adani Ports and Special Economic Zone. (Adani Ports and Special Economic Zone) was already listed.

Tags: Adani Group, Edible oil, Gautam Adani, stock return, Stock tips

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