Adani Wilmar Gives Stellar 80% Rally Post Listing

resr 5paisa Research Team

Last Updated: 11th December 2022 - 04:37 pm

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When Adani Wilmar listed on the stock exchanges on 08-February, it was a generally tepid listing with an eventfully positive close. However, there were absolutely no indications of the sharp rise in the stock price over the next few trading sessions. The table below captures how the stock of Adani Wilmar has performed post its listing on 08th February, over the next 4 days of trading.
 

Date

High Price

Low Price

Close Price

Total Traded Quantity

Turnover

Delivery %

08-Feb-22

₹ 271.25

₹ 227.00

₹ 268.25

1,355.33 lakh shares

₹ 3,396.93 Cr

44.39

09-Feb-22

₹ 321.90

₹ 272.00

₹ 321.90

706.55 lakh shares

₹ 2,133.98 Cr

24.18

10-Feb-22

₹ 386.25

₹ 345.00

₹ 386.25

565.10 lakh shares

₹ 2,099.57 Cr

26.19

11-Feb-22

₹ 419.90

₹ 351.25

₹ 381.00

885.80 lakh shares

₹ 3,475.70 Cr

23.01

 

Let us look at the behaviour of the Adani Wilmar stock on the day of listing. On 08th February, Adani Wilmar listed at Rs.227 i.e. slightly below the Adani Wilmar IPO price of Rs.230. However, by the close the stock had rallied sharply to Rs.268.25 and closed pretty near the high point of the day. By the close on listing day, the stock of Adani Wilmar had given returns of 16.63% over the IPO price and a return of 18.17% over the listing price on Tuesday.

The big returns were earned by Adani Wilmar over the next two trading sessions on 09th February and 10th February. On both these days, the stock of Adani Wilmar closed at the upper circuit of 20%. The stock closed at Rs.321.90 on 09-Feb and at Rs.386.25 on 10-Feb. By the close of the third day after listing, the stock of Adani Wilmar had already given stupendous returns of 67.93% over the IPO price and 70.15% over the listing price.

What triggered this sharp rise in the stock price of Adani Wilmar. The stock was priced reasonably for its reach and valuations were much lower than listed FMCG plays. Also, there was a certain boredom in the market with the slew of digital names that were trading at a discount to their issue prices. For an established franchise with a solid track record, Adani Wilmar ticked all the right boxes for the investors.

On Friday, the 11th February, the stock of Adani Wilmar rallied all the way to Rs.419.90 implying returns of 82.57% over the IPO price and a premium of 85% over the listing price of the IPO. However, post touching the high of Rs.419.90, the stock of Adani Wilmar corrected sharply to settle the day at Rs.381, still substantially higher than the IPO price as well as the listing day price of 08th February.


Check - Adani Wilmar IPO - Listing Performance


The rally over the 4 days since listing has been in the midst of strong volumes. If you leave out the listing day, the stock has traded volumes of 550 lakh to 850 lakh shares on these days with Friday turnover at all time high levels. The delivery percentage has fallen over the last four days from 44% to 23% indicating a clear shift towards higher speculative volumes.

Adani Wilmar is the seventh stock from the Adani Fold to list on the bourses and touched market cap of Rs.50,000 crore on 11-February. Among the other listed stocks in the Adani group, Adani Green Energy remains the most valuable stock with market cap in excess of Rs.3 trillion.

Also Read:-

Upcoming IPOs in February 2022

Upcoming IPOs in 2022

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