Shares of Adani Group have given investors multibagger stocks, in which investors have made huge gains. At the same time, ever since the deal with Adani Group’s cement companies, its stock is seeing a jump. Shares of branded edible oil and packaged food maker Adani Wilmar also hit an upper circuit of 5 per cent on Wednesday.
With this jump, the stock reached Rs 636.55, which was Rs 606 on May 17. However, it is still running 28 per cent lower than the record high of Rs 878. Since April 28, its shares have seen huge volatility. In this stock, sometimes the lower circuit and sometimes the upper circuit is made. The market cap of the company has also declined sharply. However, investors have got a return of 177 percent in about 3 months and 15 days.
Huge profit for investors
Adani Wilmar’s shares were listed on February 8 this year. The company had fixed the stock price for the IPO at Rs 230, while it is listed on the BSE at Rs 221. Its shares reached a price of Rs 878 on 28 April 2022, which is a record high for the stock. During this period, investors had got returns of up to 282 percent. However, right now the company’s market cap has come down from 1 lakh crores to less than 83 thousand crores and after today’s boom it has become Rs 636.55 per share.
what to do now
According to expert brokerage house ICICI Securities, you need to stay in whatever stock you are holding now. The brokerage says that Adani Wilmar is a strong market leader in branded edible oil and packaged food. The company has many strong brands like ‘Fortune’, which will increase the value of the company. Adani Wilmar may give more returns to investors in the coming financial year.
It is worth noting that after the deal was done with Adani Group’s ACC and Ambuja Cement companies, 49 percent stake in a media company has been bought. Since then all its shares have seen a rise. Experts believe that the shares of Adani can give higher returns to the investors in the coming days.