May 2022 \ Business & Investment \ BUSINESS NEWS
Adani Wilmar m-cap breaches Rs 1 trillion mark

NEW DELHI: The market capitalisation of Adani Wilmar breached the Rs 1 trillion mark, reportedly making it the seventh Adani Group company to cross this milestone. Commonly referred to as market cap, market capitalisation is the aggregate value of the company based on its current share price and the total number of outstanding stocks. It is calculated by multiplying the current market price of the company’s share with its total outstanding shares.

At the time of writing this report, the company’s m-cap was Rs 104,383 crore (Rs 1.04 trillion), NSE data showed.

The company listed on February 8, whose initial public offerings were subscribed more than 17 times, had made a muted debut in the exchanges with a discount of little over 1 per cent from its issue price of Rs 230.

But ever since then, it has never looked back and rallied around 250 per cent. The company is known for its wide range of offerings in edible oils besides wheat flour, rice, pulses, sugar among others. In late April, the company’s shares were locked in the 5 per cent upper circuit at Rs 803. The shares of the company have witnessed a rise since the war in Ukraine broke out. It is expected India’s sunflower imports will be hit as both Russia and Ukraine are the major suppliers to New Delhi. As per reports, Ukraine and Russia account for 70 per cent and 20 per cent sunflower oil imports to India.

Tags: Adani Group

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