January 16, 2025
New Delhi, India
Adani Wilmar Shares
Shares of Adani Wilmar Limited stayed largely flat on Thursday, January 16, even as other Adani Group stocks recorded significant gains. This subdued performance followed Adani Commodities LLP’s announcement of selling a 13.51% stake in the company through an Offer for Sale (OFS).
Promoter Stake Sale Details:
In a regulatory filing, Adani Commodities LLP revealed:
- Stake Sold: 13.51% of Adani Wilmar’s equity (17.56 crore shares).
- Dates of Sale: January 10 and January 13, 2025.
- Mechanism: Conducted via the OFS windows of BSE and NSE, adhering to SEBI’s guidelines.
Despite aligning with compliance requirements, the sale seemingly did not excite investors, with Adani Wilmar shares experiencing minimal movement.
Stock Performance:
- Opening Price: ₹275 (0.5% higher)
- Day’s Low: ₹272
- 52-Week Range: ₹408.70 (High) in February 2024 to ₹257.95 (Low) on January 14, 2025.
- Year-to-Date Decline: 11% in January 2025.
- 1-Year Loss: Over 24%.
Adani Group Stocks Rally on Hindenburg News:
Other Adani Group stocks surged over 5% intraday after Nathan Anderson, founder of Hindenburg Research, announced the disbandment of the firm.
Hindenburg had sparked a massive $100 billion sell-off in Adani Group stocks in 2023 with allegations of financial impropriety. The Adani Group denied the accusations, calling the report baseless.
Recent Controversies:
- In November 2024, Gautam Adani faced indictment in New York for alleged involvement in a multibillion-dollar fraud scheme.
- Despite the controversies, the latest developments, including Hindenburg’s disbandment, seem to have positively influenced investor sentiment in other Adani Group companies.
As Adani Wilmar remains under scrutiny, investor focus now shifts to broader market trends within the Adani conglomerate.
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