Avenue Supermarts hits record high; adds over 13% in ten days

Avenue Supermarts advanced 1.87% to Rs 4,460.90, extending gains for tenth day in a row.

The stock has added 13.41% in ten sessions, from its recent closing low of Rs 3,933.35 recorded on 8 September 2021.

The scrip advanced 2.65% to hit a record high of Rs 4,495 in trade today.

The stock has zoomed 128.85% to currently trade at Rs 4,460.90, from its 52-week low of Rs 1,949.30 hit on 19 October 2020.

In the past three months, the stock has advanced 34.66% while the benchmark Sensex has added 14.19% during the same period.

On a year-to-date (YTD) basis, shares of Avenue Supermarts have zoomed 61.30% while the benchmark Sensex has gained 25.08% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 92.386. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day, 100-day and 200-day daily simple moving average (SMA) placed at 3731.12, 3441.53 and 3158.41, respectively.

Avenue Supermarts is the owner and operator 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 30 June 2021 the company has 238 stores with retail business area of 9.01 million sq. ft

On a consolidated basis, the company posted a 137.9% jump in net profit to Rs 95.36 crore on 33.5% rise in net sales to Rs 5,183.12 crore in Q1 FY22 over Q1 FY21.

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