Adani stock group Adani Power as well as Adani Wilmar gained up to 5 percent in the market on Monday following NSE added these two stocks to the list of constituents of two indexes of stocks. Adani Power will be part of Nifty 500, Nifty 200, Nifty Midcap 100, Nifty Midcap 150, Nifty LargeMidcap 250 as well as Nifty Midsmallcap 400 indexes, NSE said. In contrast, Adani Wilmar has been included in the Nifty Next 50 and Nifty 100 indexes. All changes in the indexes will take effect on March 31, the day that the stock exchange was added.
Adani Group stocks Adani Power and Adani Wilmar gained up to 5 percent in the market on Monday following NSE added these two stocks to the list of constituents of two indexes of stock. Adani Power will be part of Nifty 500, Nifty 200, Nifty Midcap 100, Nifty Midcap 150, Nifty LargeMidcap 250, and Nifty Midsmallcap 400 indexes, NSE said. In addition, Adani Wilmar has been included in the Nifty Next 50 and Nifty 100 indexes. All changes in the indices will become effective as of March 31, day that the stock exchange was added.
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“We appreciate the company’s approach of growth driven by penetration. Its focus is on international markets and expanding distribution. It also provides rapid capacity expansion to support the growth, as well as new products launched, as well as the purchase from the Kohinoor brand. We anticipate Adani Wilmar to gain from the recent surge in sales,” it said.
Recently, Nuvama Institutional Equities said that Adani Wilmar competes in an extremely competitive market, but had a strong growth in volume across segments during the quarter of December. It cut its estimates of earnings in FY2-FY25 to 4.4-8.2 percent, and also extended its estimates to FY25E. It also announced a new price goal of Rs 680 instead of 708.