Industry

Adani Wilmar joins the Rs 50,000-crore market-cap club; stock rises 68 percent in three days.

For the second day in a row, Adani Wilmar was trapped at the 20% upper circuit. According to NSE data, the company’s market capitalization was Rs 50,201 crore.

Shares of Adani Wilmar remained locked at the upper circuit for the second straight day, up 20 percent at Rs 386.25 on the National Stock Exchange (NSE) on Thursday, thereby also establishing a new high since its market debut on Tuesday.

With today’s gain, the stock of Adani Group edible oil major has surged 68 percent over its issue price of Rs 230 per share and is above 70 percent from its listing price of Rs 227 on the NSE. From its launch price of Rs 221 on the BSE, the stock has increased by 75%.

Adani Wilmar has joined an elite group of firms with a market capitalisation (market cap) of Rs 50,000 crore, thanks to a rapid rise in its stock price.

According to NSE data, Adani Wilmar’s market capitalization is currently Rs 50,201 crore. The company’s market capitalization on the BSE was Rs 49,621 crore, with the shares locked at Rs 381.80, a 20% upper circuit.

Adani Wilmar is the Adani Group’s sixth publicly traded enterprise. The company is the sixth-largest in the group, having a market capitalization of approximately Rs 50,000 crore. Within the group, Adani Power is the only firm with a market cap of less than Rs 50,000 crore; the company’s current market cap is Rs 42,059 crore.

Adani Green Energy (Rs 3 trillion), Adani Transmission (Rs 2.18 trillion), Adani Enterprises (Rs 1.96 trillion), Adani Total Gas (Rs 1.96 trillion), and Adani Ports and Special Economic Zone (Rs 1.50 trillion) are the remaining five companies, each with a market capitalization of more than Rs 1 trillion.

Adani Wilmar is a joint venture between the Adani and Wilmar groups that produce edible oil under the Fortune brand in India. In addition to oil, the corporation sells wheat flour, rice, lentils, sugar, and packaged goods.

With a distribution network of 5,566 distributors spread across 28 states and eight union territories, the company is one of the few big FMCG players with pan-India penetration, serving nearly 1.6 million retail outlets.

Adani Wilmar’s board of directors will meet on February 14, 2022 to discuss and approve the company’s unaudited financial results for the quarter and nine months ended December 31, 2021.

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