Avenue Supermarts’ Share Price Jumps 4 pc, Analysts Recommend ‘BUY’ – Check D-Mart Share Price Target
Avenue Supermarts‘ Share Price Target 2024: Radhakishan Damani-led Avenue Supermarts’ share price jumped more than 4 per cent on Thursday after the company posted a 20 per cent rise in its standalone revenue from operations for the March quarter. Avenue Supermarts Ltd owns and operates retail chain D-Mart. The scrip of the company rose 4.20 per cent to close at Rs 4,647.15 apiece on the BSE. On the NSE, stock of Avenue Supermarts climbed 4.01 per cent to finish at Rs 4,639.80 per piece.
Avenue Supermarts’ Share Price Target 2024
The analysts at the brokerage CLSA are bullish on the D-Mart with a ‘BUY’ rating, recommending a target price of Rs 5,107 per share.
Avenue Supermarts’ Share Price Today News NSE BSE
In the intra-day trade, shares of the company surged nearly 6 per cent to hit its 52-week high of Rs 4,715 and Rs 4,710.15 per piece on the NSE and BSE, respectively. The stock gained 12 per cent in the last three straight sessions.
In terms of volume, 15.64 lakh equity shares were traded on the NSE, while 44,543 shares were traded on the BSE during the day. At the close of the session, the company’s market valuation stood at Rs 3,02,405.42 crore on the BSE.
Avenue Supermarts’ Share Price History
The counter has surged 26.95 per cent in the last 365 days, making investors richer with massive gains. In the last 180 days, it moved north of 20.16 per cent.
In October 2021, the Avenue Supermarts’ market capitalisation (mcap) crossed the Rs 3 lakh crore-mark. On Thursday, the 30-share BSE Sensex benchmark rose 350.81 points or 0.47 per cent to close at 74,227.63. The broader Nifty jumped 80 points to end at 22,514.65.
In a regulatory filing on Wednesday, Avenue Supermarts said it has reported the standalone revenue from operations at Rs 12,393.46 crore in the quarter ended March 2024, recording a growth of 19.89 per cent from Rs 10,337.12 crore in the same period a year ago.
As of March 31, 2024, the total number of D-Mart stores stood at 365. The revenue is higher than Rs 8,606.09 crore reported in the quarter ended March 2022 and Rs 7,303.13 crore in the preceding quarter of FY21, it said.
Promoted by Radhakishan Damani and his family, D-Mart retails basic home and personal products across markets, including Maharashtra, Gujarat, and Andhra Pradesh.
(PTI Inputs)
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