Adani wilmar stock price: Shares of Adani Wilmar, a company of Adani Group, are constantly touching new highs. The stock has jumped 43 per cent in the last one month, while it has given a return of 29.45 per cent in a week. Adani Wilmar was listed on 8 February 2022. Since then it has increased almost two and a half times. The company’s shares were listed on 8 February at Rs 221 in the stock market.
Upper circuit still installed today
The Adani Group stock has climbed to its new peak for the sixth consecutive session and touched a new high of ₹542.70 on NSE. Adani Wilmar share price jumped around Rs 25.80 per share on NSE today to reach life time high. Even today it has an upper circuit of 5 percent.
Why is the stock price rising?
With this multibagger IPO touching new highs on a regular basis, stock market experts say that the share price of Adani Wilmar is backed by strong fundamentals and technical support at current levels. All its technical indicators like RSI, MACD, Oscillators and MAS are giving bullish support on a daily basis.
Big jump of this share of Tata Group, 1 lakh became more than Rs 2 crore
Explaining the reasons for the sharp jump in Adani Wilmar share price, Ravi Singh, Vice President and Research Head, Share India Securities said, “Adani Wilmar Shares is backed by strong fundamentals and technical support at current levels. All its technical indicators like The RSI, MACD, Oscillators and MAS are providing bullish support on the daily.”
How will Adani Wilmar move ahead?
Jay Thakkar, VP, Head of Equity Research, Marwari Financial Services, said, “Adani Wilmar share price is well on an upward trend for a few days due to high rise in commodity prices across the globe, especially palm oil price. Because of this. The prices of these commodities are expected to remain higher for some more time. So it will make the stock jump further.”
Anuj Gaur, Director, IBBM Money Makers Securities, said, “In India, where the population continues to grow and the urban culture is growing at a rapid pace, the demand for ready-to-eat food is expected to increase substantially. This could be a possible reason. That the Adani Wilmar share price is steadily heading towards the hitting circuit.”