Adani Wilmar Stock Price: shares of adani vilmare The maximum retail price (MRP) of its edible oils fell by 5 per cent on Monday after India’s largest edible oil producer cut the maximum retail price (MRP) of its edible oils as the government reduced import duty on the commodity.
according to a statement from Adani The Maximum Retail Price (MRP) of a 1-litre pack of Fortune Refined Sunflower Oil Wilmar has been reduced from Rs 220 to Rs 210. The MRP of Fortune Soyabean and Fortune Kachi Ghani (Mustard Oil) 1-litre packs has been reduced to Rs. Rs.205 to Rs.195.
According to a report, the stocks with revised prices will be available in the market soon. The report said that this fall in oil prices comes after the central government’s decision to reduce import duty on edible oils.
“We are passing on the benefit of low cost to our customers, who can now expect the purest edible oils made with the highest safety and quality standards, which is also light on their pocket. We are confident that lower prices will also drive demand,” said Angshu Malik, MD & CEO, Adani Wilmar.
Adani Wilmar’s stock fell up to 5 per cent to Rs 553.30 in the previous session against the previous close of Rs 582.40. Adani Wilmar’s stock is trading higher than the 100-day and 200-day moving averages but lower than the 5-day, 20-day and 50-day moving averages. The stock has lost 20.05 per cent in a month. A total of 1.18 lakh shares of the firm changed hands with a turnover of Rs 6.59 crore on BSE. The firm’s market cap fell to Rs 72,203 crore on the BSE.
In April this year, edible oil producer Indonesia proposed a ban on exports of palm oil from the end of the month. The move pushed up the prices of edible oils, which were already boiling due to the Russo-Ukraine war. The purpose of Indonesia’s announcement of banning exports was to control the prices of edible oil in the Indonesian domestic market. India Indonesia receives 45 percent of its annual palm oil needs. The ban has increased margins for edible oil producers like Adani Wilmar.
IPO Adani Wilmar, the FMCG company of the Adani Group, has one of the best performing IPOs across Asia. Gautam Adani’s company Adani Wilmar has given the best returns to investors who have invested in IPOs of all the companies that have brought IPOs across Asia in recent times.
The company came out with an IPO in February 2022 at a price of Rs 230 per share. Which is now trading around Rs 560. That is, Adani Wilmar’s IPO has given investors a return of more than 142 percent from the IPO price. This part of Rs 230 has also touched the level of Rs 878. However, the large-cap stock tumbled 37 per cent, a record high compared to profit-booking, fourth-quarter earnings impact and Indonesia’s lifting of palm restrictions. oil exports.
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