According to reports, the popular crude oil production company, Adani Wilmar’s shares have more than doubled since their listing, outperforming the benchmark indices and its sectoral peers in 2022. The shares of Adani Wilmar are listed at a 3.91% discount at Rs. 221 to their issue price on February 8, 2022. Since then, investors have reaped 150.67% returns till now.
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What is the target price for Adani Wilmar?
Reports of View 8 has shared that six (6) analysts “offering long term price targets from Adani Wilmar Ltd. The company has an average target of Rs. 850. The consensus estimate represents an upside of 56.24% from the last price of 544.05.
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“Post a stellar listing in February 2022 due to a strong brand name and market share, Adani Wilmar had a good run in 2022 compared to the majority of other recently listed companies. However, 2023 might see a slight dip in the stock price up to Rs 538-540 levels, which will act as a strong support zone. These levels can be used to buy for targets of Rs 710-825 in the near term. A weekly close above Rs 825 could lead to even Rs. 1,000 in 2023,” Financial expert, Abhijeet from Tip2trade said.
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