The shares of Adani Group have proved to be a multibagger for the investors in the last few years and have made huge profits for the investors. One of these stocks is Adani Wilmar, which has given returns of more than 10 per cent to investors in the last two days even in the midst of a fall in the market.
Adani Wilmar’s stock closed at Rs 589 on Friday (July 8, 2022). At the same time, on Monday (July 11, 2022), the stock climbed 4.79 percent to close at 617. This rally continued on Tuesday (July 12, 2022) as well and the stock closed at Rs 648 with a gain of 4.99 per cent.
Slipped 26 percent from the highest level: In the fall of the stock market, the price of this stock has fallen significantly. Adani Wilmar touched its all-time high of 878 on April 28, 2022, after which the stock has seen a decline and the stock has slipped by about 26.21 percent from its record price.
Adani Wilmar’s stock was listed at a discount: Adani Wilmar’s stock was listed on February 8, 2022 at a price of Rs 221, which was Rs 9 less than its IPO issue price of Rs 230, but a few days after listing There was a huge boom in the stock itself and the stock has given a strong return of 193 percent to the investors.
Profits decreased: On May 2, 2022, the company had presented the March quarter results, in which the company’s profit on a yearly basis had come down by 26 percent to Rs 234 crores, as against the company’s profit of 315 crores last year. However, during this period, the company’s turnover increased by 40 per cent from Rs 10,672 crore to Rs 14,960 crore.
Adani Group shares rise: Many stocks have remained bullish after the news of Adani Group participating in the bidding for 5G spectrum. In the last five trading sessions, the share of Adani Green has risen by Rs 373 or 19.46 per cent to Rs 2294, that of Adani Total Gas has risen by Rs 256 or 10.11 per cent to Rs 2797 and that of Adani Enterprises has risen by Rs 72 to Rs 2365.