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Shares of Avenue Supermarts (D-Mart) which is promoted by veteran ace investor Radhakishan Damani, rose 204% against its initial public offer (IPO) price of Rs 299 per share. The company raised Rs 1,870 crore was subscribed more than 100 times.
Since March 21, 2017, the shares of D-Mart have outperformed the market by surging 42% compared with a gain of 6.5% in S&P BSE Sensex.
At 01:41 pm; the stock was up 5.5% at Rs 893 against 0.53% rise in the benchmark index.
A sharp surge in market price has led D-Mart to enter into the list of the top-50 most valuable companies in terms of market capitalisation (m-cap).
D-Mart with an m-cap of Rs 55,712 crore stood at 47th position in overall m-cap ranking, surpasses Tata Steel and Cadila Healthcare, the BSE data shows. It was at 65th position with m-cap of Rs 39,988 crore at the end of first day of its listing.
D-Mart focused on value retailing, it offers a wide range of fast-moving consumer (food and non-food) products, general merchandise and apparel.
“The Indian retail industry is expected to grow at a compound annual growth rate (CAGR) of 11.7% to USD 960 billion by 2020 from USD 616 billion organized brick and mortar retail is expected to grow at a faster CAGR of 20.2% to USD 115 billion (12%). Thus, we believe, India’s retail Industry offers massive scope for growth,” analyst at Motilal Oswal Research in recent report with a Netural rating.
With its strong track record and its clusterbased approach towards expansion, D-MART is well placed to benefit. Positioned as a value retailer, its overall revenue has grown at a CAGR of 40% and like-to-like revenue has grown higher than 20% in the last five years, added report.
|Price on BSE in Rs||M-cap Rs crore|
|H D F C||1458.05||1645.30||12.8||231,582||262,080|
|St Bk of India||272.30||282.00||3.6||217,118||243,424|
|O N G C||193.70||161.05||-16.9||248,580||206,679|
|I O C L||371.80||381.90||2.7||180,543||185,447|
|Kotak Mah. Bank||859.65||959.00||11.6||158,210||182,546|
|Larsen & Toubro||1549.55||1702.40||9.9||144,565||158,905|
|Power Grid Corpn||193.20||209.95||8.7||101,074||109,837|
|B P C L||642.05||659.95||2.8||92,851||95,440|
|M & M||1294.30||1382.00||6.8||80,388||85,835|
|ICICI Pru Life||371.15||492.90||32.8||53,273||70,749|
|H P C L||505.70||513.50||1.5||51,373||52,166|
|Dr Reddy's Labs||2622.80||2656.05||1.3||43,470||44,038|
|B H E L||169.10||136.95||-19.0||41,389||33,520|
|LTP: Last traded price on BSE in Rs at 01:41 pm.|