Shoppers Stop surges 11%, hits 52-week high on healthy Q1 results

Returning mobility and higher ticket purchases led by the pent-up demand will likely drive retail spending over the coming months, the company said

Shares of Shoppers Stop hit a 52-week high of Rs 603.70, as the stock surged 11 per cent on the BSE in Wednesday's intra-day trade. The spurt comes after the company reported profit after tax (PAT) of Rs 23 crore in June quarter (Q1FY23), driven by a healthy operational performance, as against a loss of Rs 118 crore in the year-ago quarter (Q1FY22).

The stock surpassed its previous high of Rs 598.65, touched on April 28, 2022. The stock had hit a record high of Rs 792 on January 4, 2011. At 09:29 AM, Shoppers Stop traded 10 per