Adani Wilmar Shares Soar 10% and Hit Upper Circuit Limit
In a significant movement in the stock market, shares of Adani Wilmar experienced a dramatic 10 percent rise, reaching the upper circuit limit on Friday. This surge followed an announcement from Adani Enterprises, the group’s flagship company, regarding the demerger of its food-FMCG business and investments in Adani Commodities LLP into the edible oil giant, Adani Wilmar.
By the end of the trading session, Adani Wilmar’s stock had increased by 9.99 percent to hit Rs 383.15 and Rs 383 on the National Stock Exchange (NSE) and BSE, respectively, each reaching their maximum limit for the day.
This bullish trend in Adani Wilmar’s shares had a significant impact on the company’s market valuation, which saw an impressive increase. The market cap of Adani Wilmar escalated to Rs 49,777.69 crore, marking an increase of Rs 4,522.89 crore on the BSE.
The remarkable rise in share prices and market valuation underscores the positive market sentiment and investor confidence in Adani Wilmar’s growth prospects and strategic moves. This development is noteworthy for both current and prospective investors, highlighting the potential of Adani Wilmar as a pivotal player in the food-FMCG sector.
