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Avenue Supermarts corrects amid profit booking

Capital Market 

Avenue Supermarts (DMart) informed about the closure of qualified institutional placement (QIP) of equity shares on Monday, 10 February 2020.

The DMart board approved the QIP issue price of Rs 2,049 per share. The QIP issue commenced on 5 February 2020. The company offered 2 crore shares at the floor price of Rs 1999.04 each.

The stock was down 3.11% at Rs 2407 amid profit booking. The scrip surged 8.63% in yesterday's session to end at Rs 2484.15. It hit a record high of Rs 2,537 yesterday.

On a consolidated basis, DMart's net profit jumped 55.3% to Rs 384.04 crore on a 24.4% rise in net sales to Rs 6808.93 crore in Q3 December 2019 over Q3 December 2018.

Avenue Supermarts owns and operates D-Mart stores. D-Mart is a national supermarket chain that offers customers a range of home and personal products under one roof.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, February 11 2020. 11:22 IST