After Adani Power, Adani Wilmar enters ₹1 lakh crore club tripling investors money in three months
- 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 Russia-Ukraine war. 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 interview to Business Insider said 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) April 26, 2022
Now, each of the Gautam Adani-led companies have a market capitalisation of ₹1 trillion. Yesterday, on April 25, Adani Power entered ₹1 trillion market cap on exchanges.
|Adani Group Companies||Market cap|
|Adani Green Energy||₹4.53 lakh crore|
|Adani Transmission||₹2.97 lakh crore|
|Adani Total Gas||₹2.76 lakh crore|
|Adani Enterprises||₹2.57 lakh crore|
|Adani Ports and Special Economic Zone||₹1.86 lakh crore|
|Adani Power||₹1.10 lakh crore|
|Adani Wilmar||₹1.04 lakh crore|
SEE ALSO: Veranda Learning forays into preschool segment, goes deeper into test prep
Bought Twitter shares in India? Here’s what will happen after Elon Musk’s acquisition and Twitter going private
- Third-party apps connected to your car may be stealing your data
- Bharti Airtel’s cash flows will grow for 2 years after 5G spectrum purchases too: Moody’s
- Top 5 Indian apps to boost productivity
- These brokers allow you to invest in US stocks from India
- Your Android smartphone may soon be able to detect snoring and coughing while you sleep