Adani Wilmar falls on group's sake sale plan

By MG News | December 31, 2024 at 10:39 AM GMT+05:00
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 | 132,995.30 10.49M |
0.79% 1046.23 |
ALLSHR | 82,727.26 42.68M |
0.80% 658.00 |
KSE30 | 40,713.98 4.09M |
0.81% 326.21 |
KMI30 | 192,505.62 3.90M |
0.59% 1128.80 |
KMIALLSHR | 55,533.69 18.51M |
0.62% 339.72 |
BKTi | 36,223.61 1.19M |
1.10% 395.37 |
OGTi | 28,557.77 0.07M |
0.39% 111.42 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 109,875.00 | 110,525.00 107,865.00 |
-540.00 -0.49% |
BRENT CRUDE | 67.81 | 67.96 67.22 |
-0.49 -0.72% |
RICHARDS BAY COAL MONTHLY | 97.50 | 0.00 0.00 |
0.75 0.78% |
ROTTERDAM COAL MONTHLY | 106.00 | 106.00 105.85 |
-2.20 -2.03% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
CRUDE OIL - WTI | 66.03 | 67.18 65.40 |
-0.97 -1.45% |
SUGAR #11 WORLD | 16.37 | 16.40 15.44 |
0.79 5.07% |
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 |
---|