According to the CEO of India’s leading crude oil processor, Adani Wilmar, the company that is making a weekly close above Rs 825 could even be Rs 1,000 in 2023.
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“Adani Wilmar reported revenue growth of 4.3% YoY/-3.9% QoQ to Rs 1,410,500 million in Q2FY23. Volumes increased by 9% YoY, with food, FMCG, and industry essentials seeing the most growth,” CEO Manoj Dalmia said.
What happened to Adani Wilmar share?
According to reports, Adani Wilmar shares which closed at Rs. 617.6 on December 30, 2022, fell to Rs. 546.20 on January 23, 2023. This means that it lost 11.56% during the period. The market cap of the firm also rose to Rs. 72,788 crores.
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Vice President of Technical Research, Prabhudas Lillader also said;
“Recently, the stock has slipped below the crucial support zone of Rs 560 levels weakening the bias and is anticipated to witness some more slide with the next major support near Rs. 490-495 zone. For the bias to improve from current levels, it has to move past the Rs. 590-595 zones decisively to establish some conviction for further continuation of the uptrend.“
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