Adani Wilmar share price: Shares of Gautam Adani Group company Adani Wilmar have been under pressure for the last few months. If we talk about this year, the stock has given negative returns to its investors. However, experts seem bullish on Adani Wilmar shares. Brokerage Nuvama Institutional Equities estimates that the stock will cross Rs 450.
target price of share
Recently, the brokerage has kept a 12-month target price on Adani Wilmar at Rs 480. This means that the share can go up to Rs 480 in a year. Currently the share price is Rs 332.10. Accordingly, the share can give more than 45 percent return.
This share of Ambani fell from ₹ 120 to ₹ 1, now trading will start again!
What did the brokerage say?
Nuwama Institutional Equities said Adani Wilmar’s margins disappointed due to hedging losses. It said trends in raw material (RM) prices and any near-term risks from local companies are worth watching. The brokerage said the challenges faced by the company in Bangladesh operations have been addressed with the improvement in the foreign exchange position and fundamentals of the economy. Operations have returned to normal in this quarter.
Let us tell you that Adani Wilmar’s revenue and EBITDA have declined by 4.6 percent and 0.5 percent respectively on annual basis. But its profit after tax (PAT) grew 67.5 per cent year-on-year and the company recorded an Ebitda margin of 2.7 per cent. It is flat year-on-year but down 123 bps quarter-on-quarter.
