Adani Wilmar down for 8th straight day; slips 34% from 52-wk high level

Post the sharp share price rally since listing, brokerage firm JPMorgan find the stock's risk-reward unattractive. Analysts have downgraded their stance to 'underweight' with a target price of Rs 525.

Shares of Adani Wilmar traded lower for the eight straight day, down 5 per cent at Rs 583.25 on the BSE in Tuesday’ s trade. The stock of Adani Group Company, engaged in edible oil business, locked 5 per cent lower circuit for the fifth straight day. It slipped 34 per cent from its 52-week high level of Rs 878 that it had touched on April 28, 2022 after the company reported a mixed bag of numbers for the quarter ended March 2022 (Q4FY22).

Till 10:41 am; a combined 781,497 equity shares changed hands with pending sell orders of