Shares of Religare Enterprises, VIP Industries and Avenue Supermarts (the company that owns and operates DMart) tumbled up to 6 per cent in intra-day trade on Monday as the stocks reacted to respective news flow.
Religare Enterprises slipped nearly 4 per cent to a low of ₹260.40 on the NSE amid reports that the
company secured up to ₹1,500 crore funding from a group of marquee investors, including the promoter group - Burmans. The capital will be raised via preferential allotment of warrants at ₹235 per share.
That apart, InGovern Research Services has flagged concerns over potential governance lapses at Religare over an undeclared conflict of interest at its health insurance arm, Care Health Insurance.
InGovern has called for immediate disclosures of full Irdai correspondence on the Employee Stock Ownership Plans (ESOP) ESOP issuances.
In other news, VIP Industries is likely to see
transfer of 32 per cent equity stake from the promoter group to Multiple Private Equity as per an agreement reached between the two. The transaction involves the sale of up to 4.54 crore equity shares of VIP Industries, and will trigger an open offer as per Sebi takeover code.
Over the weekend, Avenue Supermarts (DMart) reported a flat net profit of ₹773 crore. Its revenue, however, grew by 16.3 per cent to ₹16,360 crore. The Q1 earnings fell short of analysts' expectations thus promoting them to adopt a more cautious stance.
READ MORE Meanwhile, given the news flow, here's a technical outlook on Religare Enterprises, VIP Industries and DMart.
Religare Enterprises
Current Price: ₹267
Likely Target: ₹347
Upside Potential: 30%
Support: ₹261; ₹248
Resistance: ₹302; ₹319; ₹333
Religare Enterprises stock gave a breakout on the daily scale on July 10, since then the stock has witnessed an accelerated up move. Technical chart shows that the bias at Religare counter is likely to remain positive as long as the stock trades above ₹261 levels; below which a significant support for the stock exists in the form of the 200-Day Moving Average at ₹248.
On the upside, the stock may revisit its recent high around ₹302 levels. Break and sustained trade above the same shall open the doors for an extended rally towards ₹347; with intermediate resistance likely around ₹319 and ₹333 levels.
Avenue Supermarts (DMart)
Current Price: ₹4,050
Likely Target: ₹3,750
Downside Risk: 7.4%
Support: ₹4,033; ₹3,970
Resistance: ₹4,080; ₹4,157; ₹4,350
Amid today's fall, DMart stock is seen seeking support around its 100-DMA, a key moving average the stock has respected since March 13, 2025. The 100-DMA support stands at ₹4,033; below which exists the 200-DMA at ₹3,970.
Having said that, key momentum oscillators on the daily and weekly chart are slightly in favour of the bears. Hence, the stock may witness a subdued trend in the near-term. Break and sustained trade below the 200-DMA, can drag the stock towards ₹3,750 levels.
On the upside, the medium-term moving averages - 20-Week Moving Average (20-WMA), 50-WMA, 100-WMA and the 200-WMA, are seen converging in a narrow range of ₹4,080 - ₹4,157 - thus implying stiff resistance around these levels. Further, upside for the stock seems capped around ₹4,350 levels for now.
 "Religare, VIP Industries, DMart: Trading strategies for stocks in news")
