V-Mart Retail spurts after SBI MF hikes stake

V-Mart Retail rallied 3.38% to Rs 3,497.70 after SBI Mutual Fund (MF) bought 8.97 lakh equity shares or 4.5449% stake of the company on 3 March 2022.

Post transaction, SBI Mutual Fund (MF) increased its shareholding to 8.7602% stake from 4.2153% stake held in V-Mart Retail. The deal was executed as market purchase.

V-Mart Retail's consolidated net profit jumped 19.3% to Rs 57.11 crore on a 47.2% surge in net sales to Rs 692.02 crore in Q3 FY22 over Q3 FY21.

V-Mart is a complete family retail store chain offering apparel, footwear and accessories for men, women and kids. The company also offers a wide range of home furnishings, general merchandise, toys, tableware, utensils, and other home utility items.

 

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