The company's board is slated to meet on January 9 to consider financial results for the quarter ended December 2020
Since October 17, 2020, post July-September quarter (Q2FY21) results, the stock of Avenue Supermarts has rallied 43 per cent, as against a 19-per cent rise in the S&P BSE Sensex
Sales of general merchandise, competitive pressures in the festive season key for Q3 margins
Owner of Avenue Supermarts reported a profit of Rs 323 crore in the same quarter last year
Analysts at Prabhudas Lilladhar believe D-Mart has higher weakness risk in 1HFY21 given that Covid-19 sensitive clusters of Maharashtra, Gujarat and Telangana constitute 63 per cent of total stores
With Rs 1.59 trillion m-cap, the DMart retail chain operator Avenue Supermarts now stands at the eleventh position in the overall m-cap ranking.
The company said nearly 50 per cent of its outlets were closed due to the lockdown and Covid-19 restrictions imposed by local authorities.
Firm's unit economics remain strong amid competitive intensity
Avenue Supermarts, which runs the D-Mart supermarkets chain, has dipped 7% to Rs 1,318 after the company's EBITDA margin declined 110 basis points at 8.0% in Q2FY19 as compared to 9.1% in Q2FY18.
The stock hit a new high of Rs 1,664, up 4.5% on the BSE in intra-day trade, surpassed its previous high of Rs 1,622 recorded on June 13, 2018.
Biocon, Hexaware Technologies, Kotak Mahindra Bank and MM Forgings were among 13 stocks from the S&P BSE 500 and Smallcap index hitting new high on the BSE in otherwise range-bound market
The stock was up 5% to Rs 1,476, extending its Thursday's 3.3% gain on the BSE
The stock moved higher by 6% to Rs 1,437 on the BSE in noon deal trade on Thursday, after nearly one per cent or 5 million equity shares of the company changed hands through multiple block deals
The stock has dipped 6% to Rs 1,338, extending its Friday's 5% decline on the BSE after the company announced promoter R K Damani would pare his stake to comply with the shareholding norms.
Stock trades at 58 times its FY20 estimates
Avenue Supermarts was listed on stock exchanges with a blockbuster listing in March last year, making Radhakishan Damani, a part of India's richest 20 club
With market-cap of Rs 62,901 croe, D-Mart stood at 44th rank, the BSE data shows.
The hit a new high of Rs 996, up 4%, extending its Tuesday's 3% gain on the NSE
D-Mart with an m-cap of Rs 55,712 crore entered into the list of top-50 most valuable companies.
The stock was up 5% to Rs 814 on BSE in intra-day trade on back of heavy volumes