BackAdani Wilmar share price crosses ₹350. Should you sell, hold or buy now?
Adani Wilmar share price is fairly priced and one should book profit at current levels whereas high risk traders can hold the stock maintaining stop loss at around ₹319 apiece levels, believe stock market experts
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Adani Wilmar share price continues to rally on third straight session post-listing as the FMCG stock shot up over 15 per cent in early morning deals. Adani Wilmar share price today opened with an upside gap of around ₹34 apiece and went on to climb to its new high of ₹381 per share on NSE.
According to stock market experts, the stock is fairly priced and one should book profit at current levels whereas high risk traders can hold the stock maintaining stop loss at around ₹319 apiece levels as the Adani group stock may go up to ₹410 levels.
On Adani Wilmar share price new target; Anuj Gupta, Vice President at IIFL Securities said, "Today Adani Wilmar share price has breached ₹350 levels and trading above it. Those who hold this counter and have high risk appetite can further hold the stock with the trailing stop loss of ₹328 for the next possible target of ₹400 to ₹410 levels."
Speaking on Adani Wilmar share price outlook; Ravi Singhal, Vice Chairman at GCL Securities said, "Adani group stock has been rising post-listing and those who have this stock in their portfolio are advised to book profit at current levels whereas high risk traders can hold the counter maintaining stop loss below yesterday's close of ₹321.90 per share levels." Ravi Singhal of GCL Securities suggested traders having high risk appetite to maintain trailing stop loss at ₹319 expecting profit booking at any point of time now."
Advising investors to avoid taking any fresh position in the counter; Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Adani Wilmar share price is fairly priced and one should avoid taking fresh position at current levels as profit-booking may trigger in the stock any time. Adani Wilmar Limited is a FMCG company and its operating margin is around 5-6 per cent. So, such a huge jump in stock was not expected in the counter but when there is such profit available for the shareholders, it is better to book profit and wait for correction to make fresh entry in the counter."
Shares of Adani Wilmar listed on NSE and BSE on 8th February 2022. After listing at discounted price of ₹227 on NSE, the Adani group stock soon recovered and started ascending on bulk buying by stock market investors. In last two days of trade, this FMCG stock has achieved all targets given by brokerages.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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