Gautam Adani will separate from Adani Wilmar, may sell 44 percent stake, know why this decision was taken suddenly
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Adani Wilmar Stake Sale: Indian industrialist Gautam Adani (Gautam Adani)’s company Adani Wilmar, a big information is coming out. It is being told that Adani Group is planning to sell 44 percent stake in its company Adani Wilmar. The Adani Wilmar firm is in a joint venture with the Wilmar Group of Singapore. The current net worth of the company is $6.17 billion. According to Bloomberg’s report, according to the current share price of Adani Wilmar, if Gautam Adani sells 44 percent of his company’s shares, then his net value can be up to $ 2.7 billion. However, any comment has been denied by Adani Group in the matter.
Adani Wilmar shares fell three percent
Adani Wilmar’s shares in the stock market fell by around 3.10 per cent to Rs 380.75 at 10 am after Gautam Adani got information about selling his stake. Market experts say that by selling its stake in Adani Wilmar, Adani Group is preparing to exit the joint venture with Singapore based company Wilmar Group. According to the report, Adani Enterprise may decide to retain its stake. Whereas, if Adani and his family sell the stake, B can retain the minority stake in individual capacity after the sale.
adani wilmar loss of rs 79 crore in june quarter
Adani Wilmar has incurred a loss of Rs 79 crore in the first quarter of the current financial year. The company was told by the company on August 2 that this loss was due to the fall in edible oil prices. The company had earned a net profit of Rs 194 crore in the same quarter of the last financial year. Adani Wilmar told the stock market that its total income also fell by 12 percent to Rs 12,928 crore in the June quarter, as against Rs 14,724 crore in the same quarter of the previous financial year. Adani Wilmar sells edible oils and other edible items under the Fortune brand. Angshu Malik, Managing Director and Chief Executive Officer (CEO), Adani Wilmar Limited said that with the fall in edible oil prices, we have gained momentum in this segment. The fall in edible oil prices is good from the point of view of the industry.
Adani started joint venture in 1999
Adani Wilmar is an FMCG company offering essential kitchen related products including edible oil, wheat flour, rice, pulses and sugar. It was started in January 1999 as a joint venture between Adani Group and Wilmar Group. At present, the company has 23 plants in 10 states of India. Edible oil brand Fortune is the flagship brand of the company.
Adani Power Q1 net profit up 83 percent to Rs 8,759.42 crore
The integrated net profit of Adani Power Limited (APL), the power producer of Adani Group, increased by 83.3 percent to Rs 8,759.42 crore in the first quarter (April-June) of the current financial year. APL said in the information given to the stock market on Thursday that its profit has increased due to increase in income. The net profit of the company was Rs 4,779.86 crore in the same quarter a year ago. The total income of the company increased to Rs 18,109.01 crore during the period under review as against Rs 15,509 crore in the same quarter last year. During this period, the company’s expenditure came down from Rs 9,642.80 crore in the previous year to Rs 9,309.39 crore. The country’s largest private-sector thermal-power generator said in a separate statement that its integrated pre-tax income for the April-June quarter rose 41.5 per cent to Rs 10,618 crore from Rs 7,506 crore in the year-ago quarter. .
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