Shares of the newly-listed Adani Wilmar (AWL) was locked in the 10 percent upper circuit at Rs 345.80 on the BSE during Wednesday’s trade with only buyers on the counter.

Share Market Live

NSE

Shares of Adani Wilmar have lost more than a quarter of their value since reaching their peak, settling at Rs 314.40, correcting 25 percent from its record high level, on Tuesday as markets plunged amid geopolitical concerns between Russia and Ukraine.

Following a muted listing at Rs 221 on February 8, Adani Wilmar saw some major profit booking after hitting a high of Rs 419.90 on February 11, delivering a 90 percent return to investors.

Also Read:

Adani Wilmar Q3 earnings: Net profit jumps 66% to Rs 211 crore, revenue up 41%

On the bourses, a total of 8.7 million shares had changed hands as of 12:55 pm today. The S&P BSE Sensex, on the other hand, was up 0.35 percent, or 200 points up at 57,500.26.

Adani Wilmar earlier this month reported a net profit of Rs 211.4 crore for the quarter ended December, up 65.9 percent on a year-on-year basis.

The quarterly numbers of Adani Wilmar - a 50:50 joint venture between the Adani Group and Singapore's Wilmar Group - came days after the stock began its journey on domestic bourses.

AWL made its market debut on February 8, 2022. The company had raised Rs 3,600 crore through its initial public offer (IPO) by issuing shares at a price of Rs 230 per share.

Catch all our live market updates here