- FMCG company
Adani Wilmar , known for edible oil 'Fortune', made it to the ₹1 trillion club on sharp rally in share price. - Today, shares of the company hit an all time high of ₹802.80 as the stock surged 5%.
- Moreover, the stock has tripled investors' money in just three months from February 8, 2022 when it got listed on exchanges.
In just three months of listing, shares of the firm have rewarded investors with three-fold returns. Today, shares of the company hit an all-time high of ₹802.80 as the stock surged 5%.
The stock has been on an uptrend since yesterday, April 26, after Indonesia banned exports of palm oil, which would eventually increase prices of edible oil and benefit the firm. Reportedly, India sources 45% of its annual palm oil needs from Indonesia.
Besides, the company has benefited from the recent spike in prices of cooking oil because of the $4 Prices of cooking oil commodities across nations have shot up because of supply disruption fears in Russia and Ukraine. As a matter of fact, Ukraine and Russia together account for 90% of India’s sunflower oil imports.
As a matter of fact, Ukraine and Russia together account for 90% of India’s sunflower oil imports.
In 2021, India imported 70% of its sunflower oil requirements from Ukraine alone. Russia accounted for 20% and the balance 10% was from Argentina.
Earlier the company in an $4said that it has a market share of 18.3% in the edible oil business.
$AWL.NSE High PE ratio suggests, a time correction/price correction can be seen sooner than later. Since the financials of the company are good and there is a craze in the market for the Adani group, a time correction is more likely. On technical front as well, stock looks overbought as is seen in the mad bull run on charts. If price correction happens, it may take support in the 600-630 range. Considering its high growth potential and volatility, the PE will always remain high. Overall, we don't see it move to greater heights from here without cooling down a bit. Note: We are not SEBI registered. Any suggestions given are for educational purpose only. Please consult your financial advisor before investing.
— (@FunTechAdda) $4]]>Now, each of the Gautam Adani-led companies have a market capitalisation of ₹1 trillion. Yesterday, on April 25,
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