D-Mart surpasses Axis Bank, L&T in market-cap ranking as stock hit new high

Avenue Supermarts, the owner of D-Mart chain of retail stores, hit a record high of Rs 3,655.95, up 1.7% on the BSE in intra-day trade

Avenue Supermarts, the owner of D-Mart chain of retail stores, surpassed private sector lender Axis Bank and the construction and engineering giant Larsen & Toubro (L&T) in market capitalisation (market-cap) ranking as the stock of the department stores hit a new high on the BSE in intra-day trade on Monday.

At 11:41 am, with market-cap of Rs 2.36 trillion, Avenue Supermarts stood at the number 16th position in the overall market-cap ranking, ahead of L&T (Rs 2.332 trillion) and Axis Bank (Rs 2.334 trillion), the BSE data shows. The fast-moving consumer goods (FMCG) and cigarettes company ITC, with Rs 2.61