Adani Wilmar was the newsmaker yesterday and today too, it holds that mantle. The stock yesterday plummeted down to Rs.314-levels and today the stock opened over 3% higher at Rs.324 and even went on to hit the 10% UC of the day at Rs.345.80, where it now remains frozen.

The stock was beaten down yesterday by traders panicking in the falling market and today, we had discerning and prudent investors buying into the stock. There is no change in the geopolitical tensions between today and yesterday; yet so much change in this stock’s price! Clearly some punters sold yesterday.

Fundamentally, the stock remains rock solid. It is India’s number one branded edible oil FMCG company, commanding an 18% market share. It is already the largest listed FMCG company in India, in revenue terms, with 9MFY22 revenue of Rs. 39,253 crore, ahead of HUL’s product revenue of Rs. 38,004 crore for the same period.

The company has entered the 'Top 100 listed stocks' club and is already witnessing huge buying by mutual funds in almost all large-cap schemes. Ongoing capex and increasing branded penetration, provides healthy double-digit growth visibility on both revenue and profit.