Adani Wilmar posts ₹131 cr loss in Q2; shares drop
Revenue of Adani Wilmar slipped 13% year-on-year to ₹12,267 crore in the second quarter
Revenue of Adani Wilmar slipped 13% year-on-year to ₹12,267 crore in the second quarter
Adani Green stock gains 9.8% in intraday trade to touch a high of ₹1,024.95 apiece
"The news item refers to one of the promoter of our Company and not to any actions by the Company," says Adani Wilmar.
Adani Enterprises is reportedly looking to sell its entire 43.97% stake in Adani Wilmar, which is expected to be worth about $2.7 billion at the current share price.
Adani Green Energy was the best performer among the group stocks with 15.58% increase in market cap, while NDTV was the least performer with 0.61% rise in value.
Gautam Adani-led conglomerate releases a compendium of its environmental, social, and corporate governance performance for FY23
For FY23, the FMCG major posted 28% growth in profit at ₹582 crore, while revenue grew 7% to ₹58,185 crore.
Shares of three Adani Group companies - Adani Transmission, Adani Total Gas and Adani Green Energy - hit their respective 5% upper circuit limits.
How legacy FMCG companies staged a comeback in their battle with new-age brands by investing in data-led strategies, acquisitions and premium product portfolio.
On Friday, Adani Enterprises share price declined as much as 6.8% to ₹1,899 on the BSE, in sync with the broader market.