Shares of Adani Wilmar fell for the second consecutive session today after rating agency CreditSights raised several concerns with regard to the conglomerate's business. Adani Wilmar stock lost 3.86 per cent intraday to Rs 663 today against the previous close of Rs 689.60 on BSE. Adani Wilmar shares closed 4.73 per cent lower on Tuesday against the previous close of Rs 723.85.
Adani Wilmar stock fell 3.42% to Rs 602 against the close of Rs 623.30 in the previous session. The drop follows a price slash by the firm on cooking oil prices.
Shares of Adani Wilmar fell 5 per cent today after India's largest edible oil producer slashed the maximum retail price (MRP) of its Fortune range of edible oils by Rs 10. The move is intended to pass on the benefit to consumers after the government reduced the import duties on edible oils, making them cheaper in the country.
Shares of Adani Wilmar were trading 25 per cent lower compared to the record high in the afternoon session today. The share hit a high of Rs 878.35 on April 28, 2022. Considering the current market price, the stock has lost over 25 per cent till date.
Adani Wilmar stock fell 1.12 per cent to Rs 655 on BSE today. The stock of the Adani Group firm has been losing for the last two sessions.
Shares of Adani Wilmar fell 5 per cent today amid a report that Indonesia could restart shipments of palm oil whose export was banned to contain the soaring local prices of cooking oil. Indonesia had lifted the ban on export of palm oil on May 23 but companies were facing regulatory hurdles that were slowing the process of getting their shipments out. Shares of Adani Wilmar, which had surged due the palm oil export ban, are now heading south for the last two sessions. Adani Wilmar stock fell 5 per cent today amid volatile sentiment in the broader indices.