Avenue Supermart Share: Due to the excellent Q3 update, DMart saw a stormy rise. The stock became the top gainer in futures with a jump of 14%. Let us tell you that standalone income has increased by 17 percent to Rs 15565 crore. The number of stores reached 387. Standalone revenue in Q3 was 2% above estimates. Around 11 am, shares of Avenue Supermarts are trading around Rs 4092 on NSE with a gain of Rs 485.20 or 13.45 per cent.
brokerage firm CLSA Has given OUTPERFORM rating opinion on DMart stock and has given a target of Rs 5360 per share for the stock. CLSA said standalone earnings were better than estimates. Opened 10 new stores in Q3, only 6 new stores were opened in Q2. The store count stood at 387 at the end of Q3.
There itself morgan stanley Has given the opinion of UNDERWEIGHT rating on AVENUE SUPERMARTS. And the target price has been kept at Rs 3,702. According to him, the revenue increase was driven by an average 12% store count and same store sales growth, but the company’s performance is well below the historical 20% growth trend. Standalone earnings were better than estimates. The growth trend was seen improving on a quarterly basis. Income was supported by the opening of new stores and SSSG.
How was the Q3 update?
DMART was great after Q3 update. Sales have increased by 17.5% on annual basis. Standalone revenue in Q3 was 2% above estimates. On an annual basis, standalone income increased from Rs 13,247.33 crore to Rs 15,565.23 crore. The total store count as of December 31, 2024 is 387. Opened 10 new stores during Q3. Whereas 6 new stores were opened in the last quarter.
How is the stock’s performance?
Avenue Supermarts shares have risen 14.84 percent in 1 week, while they have gained 6.95 percent in 1 month. This stock has jumped 15.04 percent since January. Whereas the 52 week high of the stock is at Rs 5,484.85 while the 52 week low is at Rs 3,399.00. The all time high of the stock is at Rs 5,900.00.
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