Brokerages are impressed by the pickup in Avenue Supermarts store additions, and improvement in general merchandise and apparel into its mix. While JPMorgan upgraded the stock, Nuvama raised its target price.
DMart Ready, the e-commerce business, commenced operations in one new city(Gurugram) during the year while continuing to deepen its presence in existing cities.
Avenue Supermarts reported a consolidated net profit of Rs 623.35 crore in Q2 FY24, down 9.09 percent Year-on-Year (YoY). The company’s revenue was up 18.66 percent YoY at Rs 12,624.37 crore in the same period
Indian equity benchmarks were trading on a flat note in early deals today. The 30-share BSE Sensex fell 22 points to 66,260 and Nifty stood flat at 19,751.Here s a look at stocks that are buzzing in action today.
Ahead of its earnings, shares of the company end 0.5% higher on the National Stock Exchange at Rs 3,838.75. In the June quarter, the stock has gained more than 14% and scaled an over 6-month high of Rs 4,150 last month.