Adani Wilmar falls on group's sake sale plan

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 | 156,271.14 248.03M | 0.06% 90.19 |
ALLSHR | 95,792.16 942.34M | 0.11% 101.34 |
KSE30 | 47,697.19 152.59M | -0.04% -17.21 |
KMI30 | 230,037.26 105.93M | 0.14% 315.17 |
KMIALLSHR | 64,416.79 361.46M | -0.01% -3.28 |
BKTi | 41,986.80 86.28M | 0.04% 17.28 |
OGTi | 31,766.63 10.14M | -0.70% -225.13 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 117,595.00 | 117,685.00 116,465.00 | 505.00 0.43% |
BRENT CRUDE | 68.28 | 68.59 68.24 | -0.19 -0.28% |
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 | 64.35 | 64.67 64.31 | -0.17 -0.26% |
SUGAR #11 WORLD | 15.88 | 16.10 15.82 | -0.12 -0.75% |
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 |
---|