Adani Wilmar Stocks Surge After Impressive Q2 Results

Adani Wilmar Ltd, an edible oil company, saw its shares rise by 7% after reporting a consolidated net profit of Rs 311.02 crore for Q2. The company's income increased significantly, helping the stock close at Rs 340.30 on BSE. Adani Wilmar, a joint venture with Wilmar, showcased substantial growth.

The shares of Adani Wilmar Ltd, a key player in the edible oil sector, experienced a significant uptick on Thursday, rising nearly 7% following the announcement of a consolidated net profit of Rs 311.02 crore for the second quarter of the current fiscal year. This impressive performance was attributed to increased income levels.

Investors responded positively to the company's robust earnings report, with its stock climbing 6.71% to close at Rs 340.30 on the Bombay Stock Exchange (BSE). During intraday trading, the shares reached a peak of Rs 344.60. On the National Stock Exchange (NSE), the stock settled at Rs 337.50, a 6% rise.

The trading volume highlighted strong investor interest, with 7.57 lakh shares changing hands on the BSE and 79.70 lakh shares traded on the NSE. Adani Wilmar, a joint venture between Adani Group and Singapore-based Wilmar, has seen a resurgence from a Rs 130.73 crore net loss in the previous year, buoyed by rising total income, which soared to Rs 14,565.30 crore.

(With inputs from agencies.)