Adani Wilmar Share Price loses by 3%, what you need to know

Adani Wilmar share price loses by 3% on November 20 resulting in significant loss in momentum for two days. The stock of slips by 2.71% and has reached to the lowest of the year at a price of 287.

The Adani Wilmar Ltd share price has seen significant loss of almost 15% already in through the year. And if we considers year after year, it a seen a massive drop of 52%. Acccording to the reports, this is result of a report which said, Adani group is talking to Multinational Consumer Goods companies to sell all their share holdings of 43.97% in the company.

The market analysts are considering this stock as potentially weak. They foresee another possible drop in the price in near future.

DRS Finvest founder Ravi Singh said:

This stock looks very weak. It can slip down to 265 rupees in any time soon, and the highest resistance speculated is around 295.

DRS Finvest founder Ravi Singh on Adani Wilmar Ltd share price

AR Ramchandran from Tips2Trade has advised:

Adani Wilmar is under recession, but according to the charts it is still in strong position with resistance of 303 rupees and is oversold. Investors should only buy this stock if it closes above the max resistence. Next supportive price shall range near 283 rupees.

AR Ramchandran from Tips2Trade on Adani Wilmar Share price

Jigar S Patel, Senior Management Technical Research Analyst at Anand Rathi Shares and Stock Brokers, opined, “The counter is traversing a trajectory of sustained descending troughs, indicative of a firmly entrenched bearish trend.

Progressing ahead, the pivotal support is at Rs 250. While a formidable resistance is in the proximity of Rs 350. An expectation aligns with Rs 250, and the trading spectrum for Adani Wilmar in the ensuing month is envisaged to orbit around Rs 350.”

The corporation divulged frail Q2FY14 statistics, witnessing a 13.3% YoY descent in revenue and a substantial 43.4% plunge in EBITDA. With the adjusted deficit totaling Rs 77.2 crore. Nuvama Institutional Equities noted,

Edible oil volumes exhibited a 4% YoY upswing, whereas Saffola edible oil volumes witnessed a low single-digit dip of 19%, accompanied by a 12% depreciation in value during the corresponding quarter.

Adani Wilmar Share price loses

Adani Wilmar reported an adjusted loss of Rs 130 crore due to losses in edible oil due to diverging trends in spot (physical) and future prices resulting in hedging losses.

Ban on export of Basmati and non-Basmati rice EBITDA margin declined 62 basis points YoY to just 1.2%.

Nuvama also said the company incurred losses in both Q1 FY24 and Q2 FY24 due to hedge misalignment, which led to losses in the spot and futures markets. There were different movements.