Avenue Supermarts regains Rs 1-trillion market cap, stock nears record high

In the past three months, Avenue Supermarts has outperformed the market by surging 26 per cent, as compared to a 6 per cent decline in the S&P BSE Sensex.

Shares of Avenue Supermarts, which owns and operates D-Mart stores, hit its 2019 high of Rs 1,643, up 2.5 per cent on the BSE on Wednesday. The stock is 3 per cent away from its record high level of Rs 1,696, touched on December 19, 2018 in intra-day trade.

In the past 10 days, Avenue Supermarts' stock price has surged 9 per cent after rating agency CRISIL assigned CRISIL AA+/stable rating to the company's Rs 200 crore non-convertible debentures and reaffirmed its long-term bank facilities. In comparison, the benchmark S&P BSE Sensex remained flat during the same period.

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