Adani Wilmar Share Price Update
๐ Adani Wilmar company has been trading under selling pressure for a long time. After the Adani and Hindenburg scandals, there was a sharp drop in the company’s shares, which have not yet recovered.
๐ According to experts in institutional equities at brokerage firm Nuvaam, in the coming days, the share could touch the price of โน450.
๐ The brokerage firm has set a target price of โน480 for Adani Wilmar shares for the next 12 months.
๐ On Monday, May 13, 2024, the stock was trading at โน330.50, down 0.56%. However, on Tuesday (May 14, 2024), the share price increased by 2.75% to โน340.
๐ฐ Share market experts believe that Adani Wilmar shares could touch โน480 in the next year, potentially earning investors over 45% in profits compared to the current price.
๐ According to specialists at Nuvaam, the hedging losses have reduced the company’s profit margins, and fluctuations in raw material prices are posing challenges for the company.
๐ธ In the March 2024 quarter, Adani Wilmar’s revenue collection decreased by 4.6%, and EBITDA decreased by 0.5% year-on-year. However, the company’s net profit increased by 67.5% on an annual basis.
๐ In the March quarter, the company recorded an EBITDA margin of 2.7%. The year-on-year EBITDA margin remained steady, while there was a 123-point decrease on a quarterly basis.
๐ Over the past year, the company’s share price has dropped by 14.53%. In the last six months, the company’s shares have given investors a return of 12%.
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