India's DMart operator gains after Agra store opening

Avenue Supermarts

18/06/2025 09:41

** DMart operator Avenue Supermarts AVEU.NS gains 3.6% to 4,206 rupees

** Stock's biggest one-day pct gain since Feb

** Co opens new store in Agra, their first major store opening in Uttar Pradesh (UP) state outside of Ghaziabad, per Morgan Stanley; marks their sixth new store in FY26

** MS says expansion opportunity large in country's most populous state; rates "maintain" with PT of 3,260 rupees

** CLSA expects 60 store additions in FY26 vs 50 last year; maintains "outperform" with PT of 5,549 rupees

** Adds, expansion in UP beneficial for co given high population density, high store count potential

** Analysts' avg rating on stock is equivalent "hold;" median PT is 3,975 rupees - data compiled by LSEG

** Stock up 18% YTD

 (Reporting by Aleef Jahan in Bengaluru)

 ((aleefjahan.cs@thomsonreuters.com))