Adani Wilmar share: Adani Wilmar stock is seeing a steady rise. The shares of the company were trading at Rs 695 in early trade today. The company’s shares have given a return of about 215% since its listing day. Adani Wilmar stock hit the upper circuit of five per cent in the last few trading sessions and had hit a record high of Rs 701.65.
Three times more profit than issue price
Let us tell you that the Adani Wilmar IPO was launched on 27 January 2022 and its shares were listed on 8 February 2022. The issue price of the company was ₹218 to ₹230. The company’s shares were listed on BSE on February 8 at a discount of Rs 221. Today this stock was trading at Rs 695 in early trade. Accordingly, the shares of Adani Wilmar have given a strong return of more than 215% to its investors in about two and a half months.
Also read- This share went from Rs 5 to ₹ 730, in six months 1 lakh of investors became Rs 1.49 crore
Rs 1.94 lakh becomes Rs 5.54 lakh
The Adani Wilmar IPO was offered at ₹218 to ₹230 per equity share. 65 shares were placed in one lot for the issue. In such a situation, an investor had to invest Rs 1,94,350 to apply in this IPO. Had an allottee maintained his investment in this multibagger IPO from the post listing period till now, his 1,94,350 would have become Rs 6.11 lakh today, just two and a half months later.
Also read- HDFC to sell 10% subsidiary to Abu Dhabi company, shares rise
What are the experts saying?
Pavitra Shetty, Co-Founder and Trainer, Tips2Trades, said, “Adani Wilmar, a leader in the edible oil industry with high oil prices and pricing advantages, has had a strong rally so far. Technically, the stock looks overbought. A fall near Rs 460-475 should be used to re-enter the stock for better returns.”