 "Avenue Supermarts hits new high ahead of Q4 results")
Avenue Supermarts, which runs the D-Mart value retail chain, gained 5.3% to Rs 814, on BSE, ahead of the board meeting on Saturday, May 6, 2017 to consider financial results for the quarter (Q4) and financial year ended March 31, 2017. This will be the first time the company will be announcing result on BSE since its listing.
“Avenue Supermarts has reported a steady performance over the past five years. With continual store addition, coupled with improving margins, stable cash flows and control of usage of debt for expansion, the company’s performance has been sturdy,” YES Securities said in IPO note.
The company’s revenues, operating profits and net profits grew at an annual pace of about 40%, 48% and 51% respectively over the past four years ended FY16.
V-Mart Retail, the company engaged in same business, had reported a standalone net profit of Rs 4.99 crore for the fourth quarter ended March 31, 2017. The company had posted a net profit of Rs 0.48 crore in the corresponding period of last fiscal.
At 3:17 pm; the stock was up 5% at Rs 810 on BSE against 0.87% decline in the S&P BSE Sensex. It is trading at its highest level since listing on March 21, 2017. With the today’s gain, it has gained 171% against its initial public offer (IPO) price of Rs 299 per share.
The trading volumes on the counter jumped more than two-fold with a combined 4.62 million shares changed hands on the BSE and NSE.
“Avenue Supermarts has reported a steady performance over the past five years. With continual store addition, coupled with improving margins, stable cash flows and control of usage of debt for expansion, the company’s performance has been sturdy,” YES Securities said in IPO note.
The company’s revenues, operating profits and net profits grew at an annual pace of about 40%, 48% and 51% respectively over the past four years ended FY16.
V-Mart Retail, the company engaged in same business, had reported a standalone net profit of Rs 4.99 crore for the fourth quarter ended March 31, 2017. The company had posted a net profit of Rs 0.48 crore in the corresponding period of last fiscal.
At 3:17 pm; the stock was up 5% at Rs 810 on BSE against 0.87% decline in the S&P BSE Sensex. It is trading at its highest level since listing on March 21, 2017. With the today’s gain, it has gained 171% against its initial public offer (IPO) price of Rs 299 per share.
The trading volumes on the counter jumped more than two-fold with a combined 4.62 million shares changed hands on the BSE and NSE.
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