Adani Wilmar falls on group's sake sale plan

News Image

MG News | December 31, 2024 at 10:39 AM GMT+05:00

0:00

December 31, 2024 (MLN): India's Adani Wilmar dropped more than 6% in early trade on Tuesday, following the Adani Group's announcement that it would sell its entire 44% stake in the consumer goods company, as Reuters reported.

The $2 billion deal aims to allow the group to focus on strengthening its infrastructure businesses.

The group will sell a 31% stake in Adani Wilmar to its joint venture partner, Singapore's Wilmar International, at a maximum of 305 rupees per share, which is a 7.2% discount to the stock's closing price on Monday.

Adani Wilmar's shares dropped 6.4% to 307.10 rupees in early trading.

The Adani group will sell the remaining 13% stake in the edible oil maker in the open market, it said.

Copyright Mettis Link News

 

Related News

Name Price/Vol %Chg/NChg
KSE100 156,180.94
423.57M
0.51%
796.43
ALLSHR 95,690.82
1,354.89M
0.59%
557.25
KSE30 47,714.39
199.12M
0.52%
247.40
KMI30 229,722.09
134.66M
0.91%
2076.87
KMIALLSHR 64,420.07
581.33M
0.83%
532.01
BKTi 41,969.52
122.61M
0.50%
207.74
OGTi 31,991.76
10.82M
1.18%
372.62
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 115,605.00 116,415.00
114,960.00
30.00
0.03%
BRENT CRUDE 68.34 68.42
67.01
0.90
1.33%
RICHARDS BAY COAL MONTHLY 84.00 0.00
0.00
-0.40
-0.47%
ROTTERDAM COAL MONTHLY 93.35 93.50
93.15
0.50
0.54%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 64.41 64.47
62.89
1.11
1.75%
SUGAR #11 WORLD 15.86 16.10
15.82
-0.14
-0.88%

Chart of the Day


Latest News

Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg