Shares of Adani Wilmar fell by 8.30%, closing at ₹299.95 on the BSE, as investor concerns heightened following allegations of fraud and bribery against Adani Group entities.
Key Highlights:
- Market Sentiment: Adani Wilmar’s stock faced selling pressure alongside other group companies in light of the allegations involving Gautam Adani and other executives.
- Broader Impact: Adani Group companies have seen sharp declines across the board, with Ambuja Cement, Adani Power, and Adani Green Energy also witnessing significant sell-offs.
Concerns Raised:
The allegations have raised concerns regarding governance and transparency across the Adani Group, impacting investor confidence in Adani Wilmar as well.
Investor Outlook:
While Adani Wilmar has not been directly implicated in the fraud allegations, its association with the group has weighed heavily on market sentiment. Investors will be closely monitoring further developments and the group’s response to restore confidence.
