India's DMart stores operator jumps 12% on upbeat Q3 revenue

Avenue Supermarts

03/01/2025 06:10

(Updates)
    ** Shares of DMart stores operator Avenue Supermarts Ltd
 AVEU.NS  jump 12.1% to 4,045 rupees; best one-day pct gain
since April 2017
    ** AVEU on Thursday said its Q3 standalone rev grew 17.5% to
a record 155.65 billion rupees ($1.82 billion)
    ** Shares fell 30% in the three months ending Dec. 31, their
worst ever quarterly fall 
    ** Quick commerce-led concerns on Dmart's revenue/margins
got sharply priced in over past 3 months; valuations favorable -
Axis Capital
    ** Impact from quick commerce seems to be lower than
previously feared - JP Morgan
    ** Shares see most active session in 6-1/2 yrs; more than
5.8 mln shares change hands, 7.1x their 30-day avg 
    ** Analysts tracking AVEU rate it "hold" on avg - data
compiled by LSEG
    ** AVEU shares dropped 13% in 2024

($1 = 85.7330 Indian rupees)

 (Reporting by Nandan Mandayam and Ashna Britto in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))