India's V-Mart Retail rises on Q4 business update

V-Mart Retail

03/04/2024 07:46

** Shares of V-Mart Retail  VMAR.NS  rise as much as 5.4% to
highest level in nearly two months, last up 4.7% 
    ** Retailer says its total Q4 revenue from operations rose
12% to 6.68 bln rupees ($80.1 mln)
    ** Brokerage Nirmal Bang said co's revenue from ops for
seasonally weak Q4 was in line with their estimates 
    ** Brokerage flagged concern on LimeRoad, the online
business owned by V-Mart, on second consecutive Q/Q rev decline
    ** Stock to rise for a third straight week, if gains hold
    ** Trading vol is 1.3x the 30-day daily avg
    ** Avg rating of the 16 analysts is "Buy" and median PT is
2,331.5 rupees, ~6% higher than current price - LSEG data
    ** Stock fell 29.5% in 2023, losing for two consecutive
years  





($1 = 83.4160 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))