In light of recent news reports suggesting Adani Enterprises’ potential exit from the Wilmar venture, the company has issued an official statement in response to the speculations. The exchanges had sought clarification from the company earlier today.

What Happened: In an exchange filing on Wednesday, the company it is “unable to comment on media speculation and rumours and it would be inappropriate on its part to do so.”

The response comes as media reports suggest that the Adani Group was looking to sell its stake in the company. However, it is said that Gautam Adani and his family might keep a minor stake after the sale.

Adani Wilmar recently reported a first-quarter loss due to a significant drop in edible oil prices. Sentiments around the stock have been dampened since then.

Price Action: Adani Wilmar’s share price was down 3.88% to trade at ₹377.20 in the late hours of trading on Wednesday.