Edible Oil Stock: Just before the festival season, the demand for edible oil is expected to increase and prices are also likely to rise. Due to this the shares of edible oil companies are taking flight. Today i.e. even on Wednesday, there is a 5-5 percent upper circuit in the shares of Adani Wilmar Limited and Patanjali Foods.
Adani Wilmar shares cross Rs 800
Adani Wilmar’s shares have reached a nearly four-month high of Rs 808.10. The stock has gained 13.43 percent in the last 5 days. It has flown more than 11 percent in a month, whereas, so far this year it has flown 201 percent. Its 52 week high is Rs 808.10 and low is Rs 227. The company’s flagship brand ‘Fortune’ is India’s largest edible oil brand.
AWL intends to achieve steady growth and become India’s largest food FMCG company across all major packaged food segments. In addition, the company aims to strengthen its distributor network and ensure seamless supply lines to enter Tier-III cities and rural landscape. Along with this, the company is going to bring its products in the ready-to-cook and ready-to-eat segments. Due to all these reasons, this stock is giving positive signals.
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If we talk about Baba Ramdev’s company Patanjali Foods, then this stock has also taken off for the second day. Today the shares of Patanjali Foods are also showing tremendous growth. The company’s shares have climbed 5% to Rs 1,467.25 on the NSE. The stock has gained over 34% in the last one month. At the same time, so far this year it has climbed only 41.18 percent, which is less than Adani Wilmar. The flagship brand of this company of Baba Ramdev is Ruchi Soya.
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HDFC Securities analysts have started coverage on Patanjali Foods with ‘Buy’ rating. “For the two quarters time frame, the base fair value of the stock is Rs 1,490,” the brokerage firm said in its report. The brokerage believes that Patanjali Foods is well positioned for rapid growth and growing shareholders.
(Disclaimer: The performance information provided here is not investment advice only. Investing in the stock market is subject to risks and please consult your advisor before investing.)