Multibagger Stock: Adani Wilmar’s shares are one of the multibagger stocks in 2022. This Adani Group stock has delivered over 125 per cent year-on-year (YTD) timing. However, the stock is still in an ‘uptrend’ and has hit the upper circuit for the fifth consecutive session in morning deals.
Adani Wilmar share price today open with close upper gap 18 per share and went on to climb to its new all-time high At 608.90 level, today 5 percent is hitting the upper circuit.
According to stock market experts, the rise in commodity prices, especially the price of palm oil, geopolitical tensions and Sri Lanka crisis Street Observer has become quite bullish on the stock in the short term. He added that RM seed production is also expected to come down which will help the company to capitalize on margin gains from its currently available buffer stock. He further said that the recent geopolitical tensions and the Sri Lankan crisis could create new business opportunities.
Speaking on the short-term positive sentiments regarding Adani Wilmar share price; Ravi Singhal, Vice Chairman, GCL Securities said, “Due to the Russian invasion of Ukraine, the edible oil supply system has been severely affected and the market expects Adani Wilmar Limited to fill that gap as there is a growing demand for edible oil in European countries these days. Prices have become very high. Now, Sri Lanka is also in crisis and the Indian government has already started shipping food items to the island nation. In such a situation, these developments outside the Indian border have led to this Adani group company doing business. Besides, palm oil and other commodity prices are rising and the company has good buffer stock to counter rising raw material prices. This will boost the company’s EBITDA in the upcoming quarterly results. can help create.”
Ravi Singhal of GCL Securities said the outlook for RM seed production is expected to go down, leading to a rise in its price. But, the company has enough buffer stock to meet its internal demand and get margin benefits on the same.
on the fundamental and technical factors driving Adani Wilmar’s share price; Ravi Singh, Vice President and Head of Research, Share India Securities said, “Adani Wilmar share price is supported by strong fundamentals and technical support at current levels. All its technical indicators like RSI, MACD, Oscillators and MAS are supporting the upside. on a daily basis. The company’s recent bet on staples and scouting for acquisition of regional rice brands and processing units in several states of the country has added further fuel to the growth.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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