The stock market has been fluctuating for more than a month. There are few stocks of Adani Group which have given excellent returns to their shareholders even in this market volatility. The shares of Adani Wilmar, which was recently listed in the stock market, have gained about 32 percent in the last one month and on Tuesday, the shares of Adani Wilmar reached their life-time high. The shares of the company have touched the level above Rs 500 for the first time after listing.
Adani Power shares rose nearly 40% in last 1 month
Similarly, the shares of Adani Power have reached their lifetime high. The company’s shares reached the level of Rs 181.40 on the National Stock Exchange. Shares of Adani Power have given nearly 40% returns to investors in the last one month. At the same time, shares of Adani Ports have gained about 7.5 percent in the last one month.
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Adani Group stocks rise on rising commodity prices
According to stock market experts, the stock of Adani Group is rising due to rising commodity prices. Trade activities have increased due to the rise in palm oil prices, which simply means that the business of Adani Ports has picked up. Experts say that with the rise in palm oil prices, Adani Wilmar will get margin benefit on its unsold inventory. This will strengthen the balance sheet of the company, as prices may remain bullish for some more time.
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Adani Wilmar will get margin benefit on unsold inventory
Jai Thakkar, Head and Vice President, Equity Research, Marwari Financial Services, says, “Adani Group stocks are in an upward momentum due to rising commodity prices across the globe. The increase in palm oil prices will certainly benefit the business of Adani Wilmar and Adani Ports Ltd. Since the prices of these commodities are expected to remain bullish for some time, the company will get margin benefit on unsold inventory. Adani Wilmar’s shares have been in upper circuit for 2 consecutive days and the stocks have given breakout above the level of Rs 420. Now these levels will act as an important support for the stock in the near future.
Adani Power shares rose due to this reason
Regarding the rise in the shares of Adani Power, Jai Thakkar of Marwari Financial Services says that after the order given by the Supreme Court in favor of Adani Power, the company’s shares have jumped. The Supreme Court has asked the Rajasthan based 3 discoms to clear the dues of the company. Coming to the technical pattern, the shares of Adani Power have made a new 52-week high with a good increase in volumes. The shares of the company have given a price-volume breakout.