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10% increase in the share price of Adani Wilmar

They also capitalise on the technological know-how and worldwide sourcing prowess of the Wilmar Group. Despite the Adani shares overleveraged issue, the stock had a 10% increase, reaching its peak of Rs. 348.55 on 28th November 2023.

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10% increase in the share price of Adani Wilmar

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  1. 10% INCREASE IN THE SHARE PRICE OF ADANI WILMAR

  2. They gain from their solid parentage as a joint venture between the Adani and Wilmar Group. They advantage from the Adani Group's profound knowledge of regional markets, the long history of domestic trade, and the sophisticated logistics network in India. They also capitalise on the technological know-how and worldwide sourcing prowess of the Wilmar Group. Despite the Adani shares overleveraged issue, the stock had a 10% increase, reaching its peak of Rs. 348.55 on 28th November 2023.

  3. Ravi Singh’s perspectives on Adani Wilmar stocks • The Adani Wilmar stock has set a target range of Rs. 450–480, and the stock is appealing for long-term investment, according to Share India Securities' V.P. and Head of Research Ravi Singh. The main edible oil producer recorded a 66% increase in consolidated net profit for the third quarter that ended in December 2021, reaching Rs. 211 crores. In the meantime, its operating revenue increased by more than 40% to Rs. 14,379 crores from Rs. 10,229 crores during the same period in 2022.

  4. With a market capitalization (m-cap) of Rs. 2,82,116.08 crores, the counter saw a turnover of Rs. 172.85 crore. In opposition to sale orders for 62,866 shares, there were 1,01,123 buy orders. Recent reports suggest that Adani Group may sell its full 43.97% interest in Adani Wilmar. Regarding technological configuration, the counter's support was seen at Rs. 328, Rs. 325.2, and Rs. 309. Despite the controversies surrounding the Adani shares overleveraged, a decisive closing above Rs. 350 is necessary for further higher goals.

  5. Despite the recent Adani shares overleveraged controversies surrounding Adani Group, its subsidiary Adani Wilmar’s strong financial performance and positive outlook make it an appealing long-term investment. With a target price of Rs. 450–480, Adani Wilmar is well-positioned for growth in the future. It is expected to see annual revenue and earnings growth of 7.4% and 74.4%, respectively. • 01

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