<p>New Delhi: Shares of Adani Wilmar bounced 10 per cent, hitting the upper circuit on Friday after the group's flagship firm Adani Enterprises said it will demerge its food-FMCG business and its investments in Adani Commodities LLP to edible oil major.</p><p>Adani Wilmar's scrip surged 9.99 per cent each to settle at Rs 383.15 and Rs 383 apiece -- its upper circuit limit -- on the National Stock Exchange (NSE) and BSE, respectively.</p><p>The company's market valuation stood at Rs 49,777.69 crore, up by Rs 4,522.89 crore on the BSE.</p>.<p>On the volume front, 2.69 crore equity shares were traded on the NSE while 13.18 lakh shares exchanged hands on the BSE during the day.</p><p>Adani Enterprises Ltd said it will demerge its food-FMCG division and its strategic investments in Adani Commodities LLP to edible oil major Adani Wilmar Ltd as part of the strategy to give greater focus to this business and unlock value for shareholders.</p><p>Adani Wilmar is an equal joint venture between Adani Group and Singapore's Wilmar Group. Adani Commodities and Wilmar hold 43.94 per cent stake each in the company. The remaining 12 per cent stake is with the public.</p>.Adani Enterprises to demerge food-FMCG biz, investment in Adani Commodities to Adani Wilmar.<p>Post this demerger, Adani Wilmar, which sells edible oils and other food products under the Fortune brand, will cease to be the joint venture entity of Adani Enterprises Ltd. Promoters stake in Adani Wilmar Ltd will come down to 76.76 per cent from the current 87.87 per cent.</p><p>In a regulatory filing on Thursday, Adani Wilmar informed that the board has approved a 'Scheme of Arrangement' amongst Adani Enterprises Ltd (demerged company) and Adani Wilmar (resulting company) and their respective shareholders and creditors.</p><p>On Monday, Adani Wilmar Ltd reported a consolidated net profit of Rs 313.20 crore for the first quarter of this fiscal on higher revenue from cooking oils and other food-FMCG products.</p>.<p>The company had posted a net loss of Rs 78.92 crore in the year-ago period.</p><p>The total income rose to Rs 14,229.87 crore during the June quarter of this fiscal from Rs 12,994.18 crore in the year-ago period.</p>
<p>New Delhi: Shares of Adani Wilmar bounced 10 per cent, hitting the upper circuit on Friday after the group's flagship firm Adani Enterprises said it will demerge its food-FMCG business and its investments in Adani Commodities LLP to edible oil major.</p><p>Adani Wilmar's scrip surged 9.99 per cent each to settle at Rs 383.15 and Rs 383 apiece -- its upper circuit limit -- on the National Stock Exchange (NSE) and BSE, respectively.</p><p>The company's market valuation stood at Rs 49,777.69 crore, up by Rs 4,522.89 crore on the BSE.</p>.<p>On the volume front, 2.69 crore equity shares were traded on the NSE while 13.18 lakh shares exchanged hands on the BSE during the day.</p><p>Adani Enterprises Ltd said it will demerge its food-FMCG division and its strategic investments in Adani Commodities LLP to edible oil major Adani Wilmar Ltd as part of the strategy to give greater focus to this business and unlock value for shareholders.</p><p>Adani Wilmar is an equal joint venture between Adani Group and Singapore's Wilmar Group. Adani Commodities and Wilmar hold 43.94 per cent stake each in the company. The remaining 12 per cent stake is with the public.</p>.Adani Enterprises to demerge food-FMCG biz, investment in Adani Commodities to Adani Wilmar.<p>Post this demerger, Adani Wilmar, which sells edible oils and other food products under the Fortune brand, will cease to be the joint venture entity of Adani Enterprises Ltd. Promoters stake in Adani Wilmar Ltd will come down to 76.76 per cent from the current 87.87 per cent.</p><p>In a regulatory filing on Thursday, Adani Wilmar informed that the board has approved a 'Scheme of Arrangement' amongst Adani Enterprises Ltd (demerged company) and Adani Wilmar (resulting company) and their respective shareholders and creditors.</p><p>On Monday, Adani Wilmar Ltd reported a consolidated net profit of Rs 313.20 crore for the first quarter of this fiscal on higher revenue from cooking oils and other food-FMCG products.</p>.<p>The company had posted a net loss of Rs 78.92 crore in the year-ago period.</p><p>The total income rose to Rs 14,229.87 crore during the June quarter of this fiscal from Rs 12,994.18 crore in the year-ago period.</p>