Avenue Supermart share price hits new 52-week high. Here's why

Avenue Supermart share price: Avenue Supermart stock was trading at ₹4,775, up 1.3 per cent from the previous close on the NSE.

Avenue Supermart share price: Shares of Avenue Supermart gained more than one per cent to hit a new 52-week high of ₹4,784 today (April 10). This comes after the company- operators of DMart- announced the opening of a new store in Bengaluru. With this the total number of stores reached 366.

Avenue Supermart share price: This comes after the company- operators of DMart- announced the opening of a new store in Bengaluru.

Avenue Supermart share price today

At 9.20 am, Avenue Supermart stock was trading at ₹4,775, up 1.3 per cent from the previous close on the NSE. The share has rallied over 20 per cent in the past month.

Avenue Supermart revenue

The company announced a 20 per cent rise in standalone revenue at ₹12,393 crore in the final quarter of FY24.

Avenue Supermart share price: Brokerage firms on the stock

Morgan Stanley stuck to its "overweight" call on the stock and set a price target of ₹4,695. The stock has already been surpassed. The brokerage said that the revenue growth surpassed 18 per cent seen in the first nine months of FY24. This was mainly driven by a same-store sales growth (SSSG) of 11 per cent, marking the highest SSSG in the past five quarters, it said.

Earlier, CLSA raised its target price to ₹5,514 from ₹5,307, maintaining "buy" call as the brokerage said that the company has promising growth opportunities in previously unexplored markets.