Avenue Supermarts shares touch Rs 900 for first time

Avenue Supermarts which owns and operates D-Mart stores, achieved the milestone of Rs 900 per share during Thursday’s trading session, clocking gains of 49% as against its debut price.

Shares of Avenue Supermarts had debuted at Rs 604.40 on BSE, at a premium of 102.14% to the initial public offer (IPO) price of Rs 299 per share on 21 March 2017.

The company had received a blockbuster response as the IPO was subscribed 104.59 times. The company has 131 stores with a retail business area of 4.1 million sq.ft. across Maharashtra, Gujarat, Andhra Pradesh, Karnataka, Telangana, Tamil Nadu, Madhya Pradesh, Rajasthan, NCR and Chhattisgarh, as of March 31, 2017.

Avenue Supermarts net profit rose 47.45% to Rs 96.67 crore on 40.58% surge in net sales to Rs 3,110.64 crore in Q4 March 2017 over Q4 March 2016.

D-Mart is an emerging national supermarket chain that offers customers a range of home and personal products under one roof. The company offers a wide range of products with a focus on foods, non-foods (FMCG), general merchandise and apparel product categories.

Stock view :-

Avenue Supermarts Ltd is currently trading at Rs 886.35, up by Rs 39.75 or 4.7% from its previous closing of Rs 846.6 on the BSE.

The scrip opened at Rs 847 and has touched a high and low of Rs 910 and Rs 847 respectively. So far 3482262(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 52834.99 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 854.4 on 05-Jul-2017 and a 52 week low of Rs 558.75 on 21-Mar-2017. Last one week high and low of the scrip stood at Rs 854.4 and Rs 806.25 respectively.

The promoters holding in the company stood at 82.2 % while Institutions and Non-Institutions held 7.41 % and 10.39 % respectively.

The stock is currently trading above its 50 DMA.

Avenue Supermarts Ltd :-

BSE 881.00 34.40    (4.06%)
NSE 879.00 32.95    (3.89%)


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