News Karnataka
Wednesday, September 27 2023

Adani Wilmar shares rally as Russia-Ukraine war threatens sunflower imports

Adani Wilmar shares rally as RussiaUkraine war threatens sunflower imports
Photo Credit : IANS

New Delhi: At a time when the equity segment has been going through a sharp correction amid the Russia-Ukraine war, shares of Adani Wilmar rose around 10 per cent overall in the trading week that ended on Friday.

The shares of the company rose as the ongoing war may hit India’s sunflower imports. Russia and Ukraine are the major suppliers of sunflower oil to India.

As per reports, Ukraine and Russia account for 70 per cent and 20 per cent sunflower oil imports to India.

The company is known for its wide range of offerings in edible oils besides wheat flour, rice, pulses, sugar among others.

Adani Wilmar, a joint venture between Adani Enterprises and Wilmar International, is among the largest FMCG companies in India.

During the week, the FMCG company’s shares have hit the 10 per cent upper circuit twice, exchange data showed.

Even after the recent rise in share price, the counter is 12 per cent down from it’s all-time of Rs 419.90 it touched earlier this month post its debut on the exchanges.

Share this:
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Editor's Pick

Find the best odds at 10Cric and IPL Betting 2023! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp