Adani Wilmar breaks into Rs 50,000-cr m-cap club; stock up 68% in 3 days

Adani Wilmar was locked at the 20 per cent upper circuit for the second straight day. The market cap of the company stood at Rs 50,201 crore, as per NSE data.

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

With today’s rally, the stock of Adani Group edible oil major has surged 68 per cent over its issue price of Rs 230 per share, and is above 70 per cent from its listing price of Rs 227 on the NSE. The stock has zoomed 75 per cent from its debut price of Rs 221 on the BSE.

A sharp rally in market price of Adani Wilmar has seen, the company join an elite group of companies having market capitalisation (market cap) of Rs 50,000 crore.

Currently, Adani Wilmar market cap stood at Rs 50,201 crore, the NSE data showed. On the BSE, the company’s market cap stood at Rs 49,621 crore, as the stock was locked at Rs 381.80, a 20 per cent upper circuit.

Adani Wilmar is the seventh listed company of Adani Group. The company is sixth group company with a market cap of over Rs 50,000 crore. Adani Power is the only company to have a market cap of less than Rs 50,000 crore within the group, current market cap of the company stands at Rs 42,059 crore.

The remaining five companies, 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) have market cap of over Rs 1 trillion each.

Adani Wilmar is a joint venture between the Adani group and Wilmar group, and is India's leading manufacturer of edible oil under the Fortune brand. Besides oil, the company offers products like wheat flour, rice, pulses, sugar and packaged food.

The company is one of the few major FMCG players to enjoy pan-India coverage with its huge distribution network comprising 5,566 distributors across 28 states and eight union territories throughout India catering to over 1.6 million retail outlets.

The board of directors of Adani Wilmar are scheduled to meet on February 14, 2022 to consider and approve unaudited financial results for the quarter and nine months ended on December 31, 2021.