India's D-Mart owner hits over 2-yr high as revenue growth picks up

Avenue Supermarts

04/04/2024 05:54

** Shares of Avenue Supermarts  AVEU.NS  jumps 5% to 4688
rupees, its highest since Jan 10, 2022
    ** D-Mart store operator's standalone rev rose ~20% Y/Y in
March qtr vs growth of 17%-18.5% in the previous three qtrs
    ** Stock last up ~4%, top gainer on Nifty 100  .NIFTY100 
    ** Stock up just under 14% YTD, while Nifty 100 is up 5.7% 
    ** Most of AVEU's YTD gains was due to a 15.5% surge in
March, the stock's best month since July 2022
    ** Analysts avg rating on AVEU is "hold" and median PT is
4144.5 rupees - LSEG data

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))