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.
Indian stock market closed lower on Tuesday with Sensex at 72,470 and Nifty at 22,005. Financials and IT sectors dragged down major indices, while RVNL surged post MoU with AAI for Kolkata project.