Businessman Gautam Adani’s Adani Wilmar Company is one of the best performing IPOs in the food industry in Asia. Adani Wilmar has made 135 per cent profit since it was listed on the stock exchange. A stock listed on the Asian Stock Exchange has never shown this much profit.
Shares of Adani Wilmar Company have tripled in value since their inception in the stock market. However, the newly issued IPO companies are at the forefront of the market.
So far 121 companies have issued IPOs on the Asian stock market in 2022, valued at just over $ 100 million. But Adani Wilmar is the company that has done the best.
Adani and Singapore-based Wilmar International and the Monetary Authority of Singapore Nippon Life India have invested heavily in Adani Wilmar.
Two-thirds of companies that issued IPOs have disappeared from the market due to the ongoing war between Russia and Ukraine. However, the stock value of Adani Wilmar alone has increased 200 times.
Adani Wilmar produces a wide range of food products under the name Fortune, including cooking oil, wheat flour, rice, legumes, and sugar. Up to $ 48.60 billion has so far been used on behalf of the company to expand the company, repay debts and acquire other companies.
Not only Adani Wilmar but all Adani related companies are doing well in the stock market.
Shares of Adani Power have grown by 200%, making Adani Green Energy the 5th best performing company of the year.
Gautam Adani, the 6th richest man in the world, has amassed a net worth of $ 3000 billion in 2022 alone. Adani has a net worth of $ 106 billion.
According to Bloomberg, Adani bought 32 companies last year alone, at a cost of $ 17 billion. Adani is a leading player in various fields such as coal, fuel, construction, cement, food, electricity and green energy.
Depreciation of value
But the value of Adani Wilmar shares has been declining over the past few days. The federal government has abolished the agricultural import tax on imports of soybean oil and palm oil until 2024. Following this, Adani Wilmar share price fell to Rs.631.
But market analysts say the fall in Adani Wilmar stocks is temporary and will soon give investors a good return. As the cooking oil business heats up, so will the stock value. ”