Adnai Wilmar Share Price: Adani Group (Adani Group) Multibagger Stock The trend of decline in Adani Wilmar is not taking its name to stop. In the fifth consecutive trading session on Tuesday, the lower circuit was seen with a fall of 5 percent in Adani Wilmar’s stock. Investors are continuously booking profits in Adani Wilmar’s stock.
Shares lost 34 per cent from record
Even today, the share of Adani Wilmar has declined by 5 percent at Rs 583.25. Let us tell you that Adani Wilmar touched the highest level of Rs 878 on 28 April 2022. From there, the stock has fallen by Rs 295 i.e. about 34 percent. The company’s market capitalization had crossed Rs 1 lakh crore, which has come down to Rs 75,803 crore.
Brokerage houses are bullish
However, brokerage houses are still bullish on Adani Wilmar’s stock. Brokerage firm KRChoksey believes that Adani Wilmar can give a return of 20 per cent from the current levels. According to the brokerage house, Adani Wilmar imports 70 per cent of the raw material and the company has the capability to import raw material from the world’s top supplier. Wilmar is one of the world’s largest palm oil suppliers. It has been said in the research report that the company is repaying its debt with the money raised through the IPO. The cash flow of the company has increased, which will help in repayment of debt in the coming days and strengthen the balance sheet of the company.
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