India's Adani Wilmar falls on Adani group's plan to offload stake
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 31 2024
0mins
Source: Reuters
Adani Group Stake Sale: The Adani Group announced it will sell its entire 44% stake in Adani Wilmar for $2 billion to focus on strengthening its infrastructure businesses, with a significant portion going to joint venture partner Wilmar International.
Market Reaction: Following the announcement, shares of Adani Wilmar fell over 6%, trading at 307.10 rupees, reflecting a 7.2% discount from the previous day's closing price.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
