Adani Wilmar share price hits upper circuit. Should you hold, sell or buy?

Speaking on Adani Wilmar share price rally; Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Adani Wilmar shares are fairly priced at current levels and I would advise investors to book profit if their view is short-term because there is lot of speculative interest involved in the FMCG counter post-listing. Those who have long-term view are also advised to maintain trailing stop loss at around ₹265 to ₹270 as there can be sharp downside movement in the counter once the profit-booking triggers in this counter.”

Avinash Gorakshkar of Profitmart said that Adani Wilmar shares are currently standing at PE multiple of 40, which indicates that stock is a fairly priced stock. Apart from this, the

Advising intraday traders to buy Adani Wilmar shares; Anuj Gupta, Vice President at IIFL Securities said, “Adani Wilmar share price has breached ₹300 levels and currently it is sustaining above ₹300. So, those investors who still hold Adani Wilmar shares are advised to hold the counter with trailing stop loss at ₹268 for near term target of ₹325 to ₹330.”

Yesterday, Adani Wilmar share made its debut at Indian stock market at a discounted price of ₹227 per share on NSE, ₹3 lower from its upper price band of ₹230 per share levels. However, it soon started to surge post-listing and closed at ₹268.25 apiece levels on NSE.

Adani Wilmar Limtied is a joint venture between Adani Group and Wilmar Group of Singapore.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.