India's Adani Wilmar climbs on acquiring majority stake in GD Foods

AWL Agri Business

05/03/2025 04:08

** Shares of Adani Wilmar ADAW.NS rise 5.6% to 253.2 rupees

** The consumer goods firm said on Tuesday it signed an agreement to acquire an 80% stake in G.D. Foods Manufacturing for 6.03 billion rupees ($69.2 million)

** Co adds that remaining stake to be acquired over the next three years

** G.D. Foods houses products including tomato ketchup, jams, pickles under its "Tops" brand

** Five analysts covering the stock on avg have a "buy" rating; median PT is 328.5 rupees - LSEG data

** Stock down 22% so far this year vs an 11% drop in Nifty FMCG index .NIFTYFMCG

   ($1 = 87.1510 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)

 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))