Avenue Supermarts down for seventh straight day; stock hits five-month low

In the past seven trading sessions, the stock has slipped 14 per cent, as compared to 0.36 per cent rise in the benchmark S&P BSE Sensex in the same time period

Shares of Avenue Supermarts were trading lower for the seventh straight day, down 2 per cent, at Rs 1,304, to hit five-month low on the BSE on concerns of flat operating margin in the March quarter (Q4FY19).

The stock was quoting at its lowest level since October 31, 2018. In the past seven trading sessions, it has slipped 14 per cent, as compared to 0.36 per cent rise in the benchmark S&P BSE Sensex in the same time period.

Avenue Supermarts, which owns and operates D-Mart supermarket chain, had reported 200 bps declined in Ebitd (earnings before interest, tax, depreciation