Adani Wilmar stock price up on strong business across segments

The Markets Today in a nutshell

• Domestic stock market ended on a negative note.
• Markets closed lower after a highly volatile session, as investors turned cautious a day ahead of the release of domestic and US inflation data for cues on central banks’ rate hike trajectory. The World Bank in its latest economic update has said that India’s economic growth will slow to 6.6% in the next fiscal year from an expected 6.9% in the current year.

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News you could use

? TATA Motors completes acquisition of Ford India’s manufacturing plant
Tata Passenger Electric Mobility (TPEML), a subsidiary of Tata Motors, and Ford India (FIPL) had executed a unit transfer agreement on 7 August 2022 for acquisition of Ford India’s manufacturing plant situated at Sanand, Gujarat for Rs 725.70 crore. The parties have completed the transaction and TPEML has acquired the Sanand Property and the VM Plant and Machinery.

? Adani Ports and Special Economic Zone completes acquisition Israel’s international seaport.
 The company said that the company’s consortium with Israel’s Gadot Chemical Tankers has completed the acquisition of HPC from the Government of Israel. Haifa Port is reportedly the largest of Israel’s three major international seaports.

? Adani Wilmar stock price up on strong business across segments
The edible oil major said it had another good quarter, with strong volume growth across all segments leading to continued gain in market share across key product categories in Q3 FY23. The company reported high-single digit growth in edible oil volumes, while the growth in value terms was in low-single digit. Food & FMCG basket continued to grow at a very strong rate of high-20s in volumes and mid-40 growth in value in percentage terms during the quarter. Industry essentials registered a strong volume growth of over 40% and high-teens growth in value during Q3 FY23.

News from the IPO world?

• Cyient’s subsidiary files for IPO to have fresh issue of Rs. 740 crore
• About 54 companies waiting to raise Rs. 84000 crore fresh capital
• Aristo Bio-Tech IPO opens on 16th Jan

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