Adani Wilmar stock hits 5% lower circuit post Q4 earnings

Adani Wilmar stock fell 5% today as the Adani Group reported a 25.6 percent drop in consolidated net profit for the quarter ending March 2022, compared to the same period last year. On the BSE, Adani Wilmar’s stock fell 5% to Rs 716 from its previous closing of Rs 753.65. 
 
The company’s market capitalization has dropped to Rs 93,056 crore. A total of 14.81 lakh shares of the company were traded, generating a turnover of Rs 109.07 crore. 
 
The stock has now lost 18.37 percent of its value after hitting an all-time high of Rs 878.35 on April 28 this year. 
 
The stock has increased 29.57 percent in a month. The stock trades higher above the 20-day, 50-day, 100-day, and 200-day moving averages. . 
 
Sunflower oil consumption has dropped 50% as a result of the Russia-Ukraine conflict, according to Adani Wilmar’s earnings update. Ukraine is the world’s largest supplier of sunflower. Following the company’s announcement, the shares of the edible oil giant appears to have taken a hit. 
 
Tips2Trades Co-Founder and Trainer AR Ramachandran stated, “Despite good Q4FY22 earnings, Adani Wilmar’s stock has been sliding for the past two sessions, as all potential positives had already been built into the three-month upswing. The stock appears to be weak on a technical level, and it is likely to test Rs 610- Rs 625 in the coming days, with significant resistance at Rs 750.”

Adani Wilmar stock

“Today’s decrease in Adani Wilmar is on the basis of profit-booking attempt post quarterly earnings that were in line with market expectations,” said Prashant Tapse, vice-president (research), Mehta Equities.

Tips2Trades Co-Founder and Trainer AR Ramachandran stated, “Despite good Q4FY22 earnings, Adani Wilmar’s stock has been sliding for the past two sessions, as all potential positives had already been built into the three-month upswing. The stock appears to be weak on a technical level, and it is likely to test Rs 610- Rs 625 in the coming days, with significant resistance at Rs 750.” 
 
“Today’s decrease in Adani Wilmar is on the basis of profit-booking attempt post quarterly earnings that were in line with market expectations,” said Prashant Tapse, vice-president (research), Mehta Equities. 
 
According to Adani Wilmar, the fast-moving consumer goods portfolio has slowed due to high product costs. “While the rural market is the primary driver of growth,” the business stated, “inflation has had an influence on demand.” Adani Wilmar’s stock fell 5% today as the Adani Group reported a 25.6 percent drop in consolidated net profit for the quarter ending March 2022, compared to the same period last year. On the BSE, Adani Wilmar’s stock fell 5% to Rs 716 from its previous closing of Rs 753.65.

Market capitalization

The company’s market capitalization has dropped to Rs 93,056 crore. A total of 14.81 lakh shares of the company were traded, generating a turnover of Rs 109.07 crore. 
 
The stock has now lost 18.37 percent of its value after hitting an all-time high of Rs 878.35 on April 28 this year. 
 
The stock has increased 29.57 percent in a month. The stock trades higher above the 20-day, 50-day, 100-day, and 200-day moving averages. . 
 
Sunflower oil consumption has dropped 50% as a result of the Russia-Ukraine conflict, according to Adani Wilmar’s earnings update. Ukraine is the world’s largest supplier of sunflower. Following the company’s announcement, the shares of the edible oil giant appears to have taken a hit. 
 
Tips2Trades Co-Founder and Trainer AR Ramachandran stated, “Despite good Q4FY22 earnings, Adani Wilmar’s stock has been sliding for the past two sessions, as all potential positives had already been built into the three-month upswing. The stock appears to be weak on a technical level, and it is likely to test Rs 610- Rs 625 in the coming days, with significant resistance at Rs 750.” 
 
“Today’s decrease in Adani Wilmar is on the basis of profit-booking attempt post quarterly earnings that were in line with market expectations,” said Prashant Tapse, vice-president (research), Mehta Equities.

Tips2Trades Co-Founder and Trainer AR Ramachandran stated, “Despite good Q4FY22 earnings, Adani Wilmar’s stock has been sliding for the past two sessions, as all potential positives had already been built into the three-month upswing. The stock appears to be weak on a technical level, and it is likely to test Rs 610- Rs 625 in the coming days, with significant resistance at Rs 750.” 
 
“Today’s decrease in Adani Wilmar is on the basis of profit-booking attempt post quarterly earnings that were in line with market expectations,” said Prashant Tapse, vice-president (research), Mehta Equities. 
 
According to Adani Wilmar, the fast-moving consumer goods portfolio has slowed due to high product costs. “While the rural market is the primary driver of growth,” the business stated, “inflation has had an influence on demand.” 

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