Shares of Adani Group are among the recently listed shares. Adani Wilmar Limited, One is external. The firm has nearly tripled since its launch while most of the newcomers are trading in the red. Adani Wilmar SharesAccording to a Bloomberg report, a joint venture between a group controlled by Asia’s richest man Gautam Adani and Singapore’s Wilmar International Ltd has surpassed 121 Asian initial public offerings worth over $100 million this year.
The share price of Adani Wilmar has been going through a consolidation phase for the past one month. In the last one month, it has fallen close to 21 percent. However, the stock is one of the multibagger stocks in 2022 as it has given around 135 per cent return to its shareholders in 2022.
However, yesterday, the share price opened lower and went as low as Rs 631.65 per share, hitting the lower circuit for the third consecutive session. According to stock market experts, rising costs in the domestic market and reduction in edible oil prices may impact the edible oil producer stocks and hence one should avoid taking fresh positions in the stock.
Adani Wilmar in IPO, Monetary Authority of Singapore and Nippon Life India were investors. The firm manufactures Fortune brand cooking oils, wheat flour, rice, pulses, sugar and other food products. Explaining the rationale behind the public offering, it will use part of the funds in the $486 million offering to expand facilities, pay down debt and make strategic acquisitions.
Market analysts expect Adani Wilmar to continue to gain market share owing to its strong distribution network, diversified product portfolio and market share. Vikrant Kashyap, an analyst at KR, said, “The company is expected to gain market share due to strong distribution network, diversified product portfolio, market leadership across key categories, focus on rural market, new product launches and strong parenting.” Choksi told Bloomberg.
Kashyap wrote in a note this month that Adani Wilmar, who paid off the debt with money from the IPO, received a “significant gain” from his parent, which recommended stockpiling the stock. The note further mentions that the expected acquisition will lead to an increase in market share. The company recently announced the acquisition of several brands including the Kohinoor cooking brand for the India region.
Established in 1999 as a joint venture between the Adani Group and the Wilmar Group, Adani Wilmar Limited (AWL) is an FMCG food company that supplies most of the essential kitchen items including edible oil, wheat flour, rice, pulses and sugar to Indian consumers. offers. , The company’s portfolio of products is spread across 3 categories: (i) Edible Oils, (ii) Packaged Food and FMCG, and (iii) Industry Essentials.
Coming to the other listed shares of the Adani Group, Adani Power Ltd., by over 200 per cent this year, is the top performer among the members of the S&P BSE 500 Index. Elsewhere, Adani Green Energy Ltd., at 65 percent year-on-year, is the fifth-best performer, even though the firm has no analyst coverage. Overall, every share of Adani Group has done well.
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