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.

Published on: Apr 10, 2024, 11:03:47 IST

By HT News Desk

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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

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.

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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.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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