Adani Wilmar shares rise 4% on Q1 business update, check details

Shares of Adani Wilmar Ltd rose over 4% in early deals today after the Adani Group firm announced its business updates for the first quarter. Adani Wilmar stock rose 4.38% to Rs 347.50 against the previous close of Rs 332.90 on BSE. Market cap of the firm stood at Rs 44,384 crore. Total 2.79 lakh shares changed hands amounting to a turnover of Rs 9.54 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 42.6, signaling it's trading neither in the overbought nor in the oversold territory. Adani Wilmar shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, but lower than the 100 day, 150 day and 200 day moving averages.  

The firm reported a 13 per cent YoY growth in volumes in the June 2024 quarter. Edible oil segment growth climbed 13 per cent in volumes and 10 per cent YoY in value, the Adani group firm said in a stock exchange filing. Food & FMCG segment rose 46 per cent in value and 45 per cent in value while industry essentials segment de-grew 8 per cent in volumes but saw flattish growth in value terms.

Segment-wise, Adani Wilmar said the edible oil business thrived due to robust execution in sales and distribution, bolstered by the ongoing efforts to improve retail penetration. This came despite the challenges in the industry during the quarter, including decreased out-of-home consumption and seasonal dips in summer demand.