Today, November 20, there was a decrease in the Adani Wilmar share price. His momentum stalled for two days as a result. The stock fell 2.71% to Rs 287, the one-year low. At this point, the stock has lost roughly 15% of its value in the past month and 52% of its value year to date (YTD).
The news stating that Adani Group is purportedly in talks to sell its whole 43.97% ownership in Adani Wilmar to a number of international consumer goods businesses is the reason for the decline in Adani Wilmar share price.
Adani Wilmar Share Price: Technical Analysis and Support Levels
Analysts generally felt that the counter was ‘weak’ based on the technical setting. The cost of immediate assistance at the counter is Rs 283. “The stock appears fragile. In the foreseeable future, it can drop to levels around Rs 265.
Resistance at higher levels is expected to be around Rs 295, according to DRS Finvest founder Ravi Singh. “Adani Wilmar Bearish but also oversold with strong resistance at Rs 303 on the daily chart,” stated AR Ramachandran of Tips2Trades. Only if it closes above the indicated resistance level can investors buy. The next support level is set at 283.
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At Anand Rathi Shares & Stock Brokers, Jigar S. Patel, Senior Management Technical Research Analyst, stated: “The counter is making continuous lower lows, which is indicative of a well-established bearish trend.” Moving forward, we should consider Rs 250 to be a crucial support level, and Rs 350 to be a significant resistance level. Aim for around Rs 250. For the upcoming month, Adani Wilmar’s trade zone would be Rs 350.”
Margin and Financial Performance
Revenue and EBITDA were down 13.3% and 43.4%, respectively, year over year in Q2FY14, and the adjusted loss was Rs 77.2 crore. “Edible oil volumes have grown 4 percent year-on-year, while Saffola edible oil volumes have declined 19 percent in low single-digits and a 12 percent decline in value in the same quarter,” Nuvama Institutional Equities stated. She arrived.”
Recent Developments And Future Trends Of The Company
“Adani Wilmar announced an adjusted loss of Rs 130 crore for edible oil losses as a result of hedging losses brought on by divergent trends in spot (physical) and futures pricing. Export restrictions on both Basmati and non-Basmati rice “Persisted.
The EBITDA margin fell to just 1.2%, a loss of 62 basis points annually.” Additionally, Nuvama disclosed that the hedge misalignment that caused distinct moves in the spot and futures markets cost the company money in both the first and second quarters of FY24.