Adani Wilmar stocks recover as share price rises 5% in ealry trade
India TodayShares of Adani Wilmar rebounded in early trading on Wednesday, climbing nearly 5% to reach a high of Rs 323.50 after having closed at Rs 308.25 in the previous session. This recovery follows a sharp decline of 7% on Tuesday after Adani Enterprises Ltd announced its decision to sell its entire 44% stake in Adani Wilmar Ltd. Adani Enterprises, the flagship company of the Adani Group, revealed on Monday that it would completely exit its joint venture with Singapore’s Wilmar International. The funds generated will help Adani Enterprises focus on other growth initiatives, such as green hydrogen, data centres, digital ventures, and consumer services under its airport business. Other group companies, including Adani Energy Solutions, Adani Green Energy, and Ambuja Cement, have collectively raised $4.5 billion in recent months, strengthening the group’s financial standing and investment capabilities.