After falling for eight consecutive sessions, Adani Wilmar shares are up again today. Shares of Adani Wilmar were in the upper circle at 5 percent as of noon on Wednesday, May 11. As of today, the share of Adani Wilmar (Adani Wilmar share price today) opened at 554.10 rupees with a decline of 5 per cent in NSE.
Good luck to Adani-Ambani, real estate also went down and you are in the billionaires list
Later it reached Rs 612.40 with an overhead circle of 5 per cent. With this, Adani Wilmar’s market capitalization increased to Rs 79,592 crore. The stock rose 6.13 percent in a month, but also lost 14.46 percent in a week.
Ahead of today’s session, Adani Wilmar’s stock is down 30.61 percent in the past eight sessions. It eased to Rs 295, or 33.59 per cent, from its all-time high on April 28, 2022.
What does the company do
Adani Wilmar Limited is a joint venture between the Adani Group and Wilmar Group in Singapore. It is engaged in the manufacture of edible oils, wheat flour, rice, pulses and sugar. The company also owns the popular brand Fortune, which is the largest selling edible oil brand in India.
Journey after weak list
Adani Wilmar reached an all-time high of Rs 878.00 on April 28, a whopping 297.44 per cent increase over the listing price of Rs 221 on February 8. According to experts, Adani is up more than 20 percent from the current level at Wilmar. Adani Wilmar International is the largest supplier of palm oil in the market.
Losing Adani Wilmar
Adani Wilmar announced a 26 per cent drop in net profit at Rs.234.3 crore for the quarter ended March 31, 2022. However, the company recorded a 40% growth in its consolidated revenue from operations at Rs. 14,960.4 crore in the fourth quarter as against 10,672 Crore in the corresponding quarter of the previous financial year.