Avenue Supermarts jumps over 10% in three days

Image
Capital Market
Last Updated : Jul 06 2022 | 4:04 PM IST

Avenue Supermarts (DMart) rose 3.10% to Rs 3,751.60, extending gains for the third trading session.

Shares of Avenue Supermarts have risen 10.8% in three trading sessions from its recent closing low of Rs 3,386.85 on 1 July 2022.

On the BSE, 27,000 shares were traded in the counter so far compared with average daily volumes of 20,000 shares in the past two weeks.

In the past one year, the stock has surged 11.61% while the benchmark Nifty50 rose 1.15% during the same period.

Meanwhile, on Saturday, 2 June 2022, the diversified retail company posted its quarterly updates.

The total number of DMart stores as of 30 June 2022 stood at 294. Avenue Supermarts (DMart) has reported a standalone revenue of Rs 9,806.89 crore in Q1 June 2022 (Q1FY23), up 94.90% from Rs 5,031.75 crore reported in the same quarter last year. The revenue is higher than Rs 3,833.23 crore reported in Q1 June 2020 and Rs 5,780.53 crore in Q1 June 2019.

On the technical front, the stock's daily RSI (relative strength index) stood at 60.224. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading above its 50-day simple moving average (SMA) placed at 3637.64 respectively. These levels will act as crucial support zones in near term.

DMart posted 3.13% increase in consolidated net profit to Rs 426.83 crore on 18.55% jump in revenue from operations to Rs 8,786.45 crore in Q4 FY22 over Q4 FY21.

Avenue Supermarts is a Mumbai-based company, which owns and operates D-Mart stores. D-Mart is a national supermarket chain that offers customers a range of home and personal products under one roof. As of 31 March 2022, the company had 284 operating stores with retail business area of 11.5 million sq. ft across Maharashtra, Gujarat, Daman, Andhra Pradesh, Karnataka, Telangana, Tamil Nadu, Madhya Pradesh, Rajasthan, NCR, Chhattisgarh and Punjab.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jul 06 2022 | 3:29 PM IST

Next Story