Shares of Adani Wilmar fell 9.5% in early trade on January 10, hitting ₹292.65 per share. The decline followed Thursday evening’s announcement that its promoter proposes to divest up to 20% stake in the company through an Offer For Sale (OFS)."Adani Commodities LLP is one of the promoters of the company.
Open Flip
Avenue Supermarts, operator of DMart, is expected to report an 18% YoY revenue growth to Rs 16,016 crore for Q3FY25, with net profit estimated to rise 14-17%. Brokerages like Nuvama, Axis Securities, and Antique expect EBITDA growth of 12-16%. The company will announce its earnings on January 11. Store expansion and inflation drive growth.
Open Flip
State-owned lender, Indian Overseas Bank has invited expression of interest from asset reconstruction companies (ARCs) for the sale of 46 non-performing loans accounts worth Rs 11,500 crore, according to the press release. The last date to submit the expression of interest is on January 18 and e-auction is scheduled on January 30. The process of due diligence will commence from January 10.
Open Flip
