DMart shares have fallen over 23% from its record high of Rs 5,899.90 reached on October 18, 2021. The stock is in a strong uptrend in the last six sessions.
Shares of Radhakishan Damani led-DMart (listed as Avenue Supermarts) rose for the sixth straight session, touching a fresh 52 week high in early deals today. The retail stock, which hit a record high of Rs 5,899.90 on October 18, 2021 has gained 13.34% in the last six sessions. The rally in the stock can be majorly attributed to international brokerage firm CLSA initiating coverage on the stock with a target of Rs 5,107 last week. It assigned a buy rating to the DMart shares.
Avenue Supermarts Q3 earnings expectations: The Radhakishan Damani-led firm is likely to report a 25.1% rise in Q3 net profit at Rs 738 crore in Q3 against Rs 623 crore in the December 2022 quarter.