Shares of Adani Wilmar Limited witnessed a decline moment( 20 November). Due to which his instigation stopped for two days. The stock slipped2.71 to a one- time low of Rs 287
A decline was seen in the shares of Adani Wilmar Limited moment( 20 November). Due to which his instigation stopped for two days. The stock slipped2.71 to a one- time low of Rs 287. At this price the stock has fallen by about 15 per cent in the last one month and by 52 per cent on a time- to- date( YTD) base. The reason for the fall in the share price is being attributed to the report in which Adani Group is reportedly in addresses with several transnational consumer goods companies to vend its entire43.97 stake in Adani Wilmar.
On the specialized setup, judges astronomically suggested that the counter looked’ weak’. Immediate support on the counter can be seen at Rs 283.” The stock looks weak. It may slip towards Rs 265 situations in the near term. At advanced situations, resistance will be around Rs 295,” said Ravi Singh, Author, DRS Finvest. AR Ramachandran of Tips2Trades said,” Adani Wilmar Bearish but also oversold with strong resistance at Rs 303 on the diurnal map. Investors should buy only if it closes above the said resistance position. Coming support will be at Rs 283
Jigar S Patel, Senior Management Technical Research Analyst, Anand Rathi Shares and Stock Brokers, said, “ The counter is making nonstop lower lows, which is reflective of a well- established bearish trend. As we move forward, Rs 250 will be seen as important support and crucial resistance will be seen near Rs 350. One can anticipate Rs 250. The trading zone for Adani Wilmar for the coming month will be Rs 350.
The company reported weak Q2FY14 figures with profit/ EBITDA down13.3/43.4 YoY with acclimated loss at Rs77.2 crore.” Comestible oil volumes are down 4 per cent time- on- time, while Saffola comestible oil volumes declined 19 per cent in low single- integers and value declined 12 per cent in the same quarter,” Nuvama Institutional Equities said. Is.”