India's DMart operator falls after Q2 rev growth disappoints

Avenue Supermarts

04/10/2024 06:34

** India's Avenue Supermarts  AVEU.NS  drops 3%
    ** Operator of DMart stores posts 14.2% y/y rise in Q2
revenue vs 18.5% rise in Q1 
    ** Rev growth moderation "disappoints" JP Morgan; negative
surprise for Morgan Stanley 
    ** Moderation could be on extended rainfall, supply chain
disruptions, JPM says, citing own checks 
    ** Macquarie flags slower-than-expected store additions
    ** Analysts avg rating on AVEU is "hold" -LSEG data 
    ** YTD stock has gained ~18% 


 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))