Shares of Adani Wilmar Ltd are in news today after the Adani Group’s FMCG firm said it would buy a 67 per cent stake in Omkar Chemicals Industries Private Limited (OCIPL), a Gujarat-based speciality chemicals firm. The acquisition is in line with the company’s strategy to increase its presence in the specialty chemical industry. The transaction is expected to be completed within 3-4 months.
Adani Wilmar stock ended flat at Rs 334.20 on Thursday against the previous close of Rs 335 on BSE. Market cap of the firm stood at Rs 43,435 crore. Total 1.65 lakh shares changed hands amounting to a turnover of Rs 5.53 crore on BSE.
Adani Wilmar stock has a one-year beta of 0.9, indicating very low volatility during the period.
In terms of technicals, the relative strength index (RSI) of Adani Wilmar stands at 45, signaling it's trading in neither in the overbought nor in the oversold territory. Adani Wilmar shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Adani Wilmar has inked a share purchase agreement with OCIPL for an enterprise value of Rs 56.25 crore to be paid in cash, the company said.
OCIPL operates a manufacturing plant in Panoli, Gujarat, with an annual capacity of around 20,000 MT of surfactants, and is planning to scale up its capacity.
In FY24, OCIPL logged a turnover of Rs 13.95 crore. Its plant started operations in FY24 and its capacity utilisation was below 10 per cent.