India's DMart up as Motilal Oswal sees stronger H2

Avenue Supermarts

04/07/2023 09:39

** Shares of DMart stores operator Avenue Supermarts Ltd
 AVEU.NS  up as much as 1.59% to 3939.95 rupees
    ** Analysts at Motilal Oswal expect better performance in
2HFY24, aided by prolonged weak demand, potential fall in raw
material prices and potential improvement in demand 
    ** Adds that revenue growth is in line with improving
productivity 
    ** Brokerage rates stock a "buy" with PT of 4,200 rupees 
    ** Eight out of 25 firms rate stock a "buy" or above, seven
rate it a "hold", and 10 rate it a "sell" or below; median PT is
3,800 rupees
    ** About 439,328 shares change hands as of 1:57 p.m. IST, vs
1.0x 30-day average of 430,462 shares 
    ** Stock down 4.9% this year as of last close
    
    

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))