Adani Wilmar extends gains, ends 8% higher; M-cap exceeds Rs60,000 crore

29 Mar 2022 , 04:10 PM

Shares of Adani Wilmar (AWL) tested the Rs500 mark for the first time since listing on 8th February 2022. The shares hit their new all-time high of Rs506.80 per share levels on BSE.

The shares have gained over 8% to extend the two-day rally. Also, its shares have been double from the IPO price of Rs230. Earlier, AWL shares had hit a fresh high on March 25, 2022, and this newly listed Adani stock hit the upper circuit on Monday session as well.

The company’s recent bet on staples and scouting for acquisition of regional rice brands and processing units in several states of the country, has added more fuel to the rise.

The stock ended at Rs499.90 up 8.44% from its previous closing of Rs461 on the BSE. The scrip opened at Rs476.15 and touched a high and low of Rs506.80 and Rs474 respectively.