Adani Wilmar stock price outlook: The share of Adani Wilmar, the edible oil maker of Adani Group, saw a tremendous rise today. Shares of the company closed at Rs 461.15, up 10 per cent today. Further uptrend can be seen in this stock going forward. Brokerage houses are bullish on Adani Wilmar’s stock. According to brokerage firm IIFL Securities, the shares of Adani Wilmar may see a rise in the coming days.
Shares can go up to Rs 510
Anuj Gupta of IIFL Securities live hindustan He told in a conversation that the prices of edible oil have increased due to Russia-Ukraine war. The Ukraine tension war has affected the import of sunflower oil in India, which has increased the demand for sunflower oil, which has increased the prices. Ukraine alone contributes to more than two-thirds of India’s sunflower oil imports, followed by Russia, which contributes about 20 per cent. Adani Wilmar can get the maximum benefit of the increase in the price of edible oil. This is because Fortune is considered to be the largest brand in terms of edible oil. Anuj Gupta said that the shares of the company can reach Rs 490-510 in the short term.
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How much did the price of edible oil increase
According to a report by Bizom, packaged sunflower oils have seen an increase of 4% in February. While the prices of mustard oil saw an increase of 8.7% during this period. At the same time, soybean oil prices increased marginally by 0.4%.
108.67% up from the listing price
Let us tell you that the company’s IPO was open on 27 January. Adani Wilmar was listed in the stock market on 8 February. On the listing day, the company’s shares had hit an upper circuit of up to 20 per cent. Let us tell you that the shares of Adani Wilmar, the parent company of FMCG brand Fortune, were listed on the Bombay Stock Exchange at Rs 221 with a discount of about 4 percent. At the same time, the shares of the company were listed on the National Stock Exchange (NSE) at Rs 227 with a discount of 1 per cent. The current price of Adani Wilmar is Rs 461.15 per share. That is, the company has given a return of 108.67% to its investors since the listing day.
Also read- Share prices increased as soon as the names of Adani-Tata were added to Anil Ambani’s bankrupt company, the stock crossed Rs 14
company business
Adani Wilmar is a 50:50 Joint Venture between the Adani Group and the Singapore-based Wilmar Group. It is a company that sells cooking oil and some other food products under the Fortune brand.