D-Mart rallies 11%, hits new high on healthy operational performance in Q2

ICICI Securities said it continue to remain structurally positive on the stock, however it believes recent appreciation of the stock price factors in most positives.

Shares of Avenue Supermarts, which owns and operates retail chain D-Mart, hit a new high of Rs 5,899.90 as they rallied 11 per cent on the BSE in Monday’s intra-day trade following its quarterly results. The company on Saturday reported a twofold increase in its consolidated net profit at Rs 417.76 crore for the second quarter ended September 2021 (Q2FY22). The company had posted a net profit of Rs 198.53 crore in Q2FY21.

In the past seven trading days, the stock has zoomed 40 per cent from the level of Rs 4,219 touched on October 6, 2021. At 09:29 am, the