Avenue Supermarts reaches a 52-week high on posting a 20% YoY revenue growth. The stock has risen 27% in the past 12 months, largely in line with Nifty s 29% gains. CLSA, meanwhile, recently initiated coverage on the stock.
Ignatius Navil Noronha, the CEO of DMart, stands out among India s wealthy individuals for his leadership and strategic prowess, despite not being a company founder.
India s top retailers, including Reliance Retail, Titan Company, Avenue Supermarts, V-Mart Retail, and Shoppers Stop, have slowed down their store expansion this fiscal year. The slowdown is attributed to a focus on profitability and a saturated market with limited room for new outlets. Jefferies reported that Reliance Retail has reduced retail business capex and store additions have decreased.
A clutch of top domestic brokerages retained their ratings on DMarts stock with cosmetic changes. While Motilal Oswal maintained a buy view on DMart shares, Nuvama retained a Hold stance. Kotak Institutional Equities, on the other hand, reiterated a Sell view.