Avenue Supermarts Ltd Share Price – NSE  /  BSE

Retail, Mid Cap

The key benchmark indices traded with moderate gains in early trade. The Nifty traded above 22,700 level. Metal, Oil& gas and realty shares advanced while pharma, IT and healthcare stocks declined.

At 09:30 IST, the barometer index, the S&P BSE Sensex, was up 258.85 points or 0.35% to 74,945.76. The Nifty 50 index added 71.10 points or 0.31% to 22,713.85.

In the broader market, The S&P BSE Mid-Cap index rose 0.47% and the S&P BSE Small-Cap index added 0.19%.

The market breadth was positive. On the BSE, 1,566 shares rose and 1,187 shares fell. A total of 91 shares were unchanged.

The domestic market will remain closed on 11 April 2024, on account of Ramadan Eid.

Foreign portfolio investors (FPIs) sold shares worth Rs 593.20 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,257.18 crore in the Indian equity market on 9 April, provisional data showed.

Stocks in Spotlight:

Avenue Supermarts added 1.90% after the company has opened a new store at Vaishnavi Sapphire Mall, Bengaluru (Karnataka). The total number of stores as on date stands at 366.

Lupin rose 1.62% after the pharma major said that it has received an approval from US Food and Drug Administration (USFDA) to launch first generic version of Oracea (Doxycycline capsules, 40 mg) in the United States.

PB Fintech rallied 4.66% after the wholly-owned subsidiary of the company by the name of “PB Pay” has been incorporated vide Certificate of Incorporation issued by Registrar of Companies, Central Registration Centre, Ministry of Corporate Affairs dated 9 April 2024.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.39% to 7.126 as compared with previous close 7.154.

In the foreign exchange market, the rupee is edged higher against the dollar. The partially convertible rupee was hovering at 83.1750, compared with its close of 83.3150 during the previous trading session.

MCX Gold futures for 5 April 2024 settlement rose 0.16% to Rs 71,451.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was shed 0.03% to 104.12.

The United States 10-year bond yield fell by 0.21% to 4.355.

In the commodities market, Brent crude for May 2024 settlement added 5 cents or 0.06% to $ 89.47 a barrel.

Global Markets:

Asian stocks traded mixed on Wednesday as of Japan’s corporate inflation climbed in March and rate decisions are assessed from New Zealand and Thailand’s central banks.

South Korea’s markets are closed Wednesday, as the country heads to the polls to elect its next parliament. Japan’s corporate goods price index rose 0.8% in March from a year ago, accelerating from the revised 0.7% increase in February.

U.S. stock indexes ended nearly flat on Tuesday, pressured by financial-sector stocks as investors awaited a key inflation reading and braced for major banks to kick off earnings-reporting season later this week. The widely watched report on March's consumer-price index is due on Wednesday.

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DMart has reported standalone revenue of Rs 12,393.46 crore in quarter ended 31 March 2024, recording a growth of 19.89% from Rs 10,337.12 crore posted in the same period a year ago.

The revenue is higher than Rs 8,606.09 crore reported in the quarter ended 31 March 2022 and Rs 7,303.13 crore registered in the quarter ended 31 March 2021.

Avenue Supermarts is a Mumbai-based company, which owns and operates D-Mart stores. D-Mart is a national supermarket chain that offers customers a range of home and personal products under one roof.

The company’s standalone net profit grew by 14.9% to Rs 737 crore on 17.2% jump in revenue from operations to Rs 13,247 crore in Q3 FY24 over Q3 FY23.

The scrip hit 52 week high at Rs 4,710.15 in intraday today.

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The key equity indices were trading with modest gains in early trade. The Nifty traded above the 22,500 level. Barring the Nifty Pharma index, all the sectoral indices on the NSE were in green.

At 09:27 IST, the barometer index, the S&P BSE Sensex, was up 381.1 points or 0.52% to 74,257.92. The Nifty 50 index added 106.40 points or 0.47% to 22,539.50.

In the broader market, the S&P BSE Mid-Cap index rose 0.61% and the S&P BSE Small-Cap index added 0.93%.

The market breadth was strong. On the BSE, 2,473 shares rose and 430 shares fell. A total of 74 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,213.56 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,102.41 crore in the Indian equity market on 3 April, provisional data showed.

The RBI Monetary Policy Committee (MPC) kicked off its 3-day meeting deliberating interest rates and analysing the state of the economy on April 3 and will end on April 5. While the RBI is widely expected to keep rates on hold, any signals on inflation and economic growth will be closely watched, as per reports.

Stocks in Spotlight:

Avenue Supermarts gained 3.12% after the company’s Standalone revenue from operations for the quarter ended 31 March 2024 stood at Rs 12,393.46 crore as compared to Rs 10,337.12 crore from the quarter ended 31 March 2023.

Vedanta advanced 3.84% after the Vedanta Aluminium announced the successful commissioning of the new 1.5 MTPA expansion at its alumina refinery in Lanjigarh, Odisha. Vedanta Aluminium is a business of Vedanta.

KEC International surged 7.94% after the company has secured new orders of Rs. 816 crores across its various businesses.

Vodafone Idea rose 0.96%. The board meeting is proposed to be held on 6 April 2024 for considering issuance of equity / convertible securities on preferential basis to one or more promoter group entities for a sum upto Rs. 2075 crore.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was down 0.01% to 7.103 as compared with previous close 7.104.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.4375, compared with its close of 83.5300 during the previous trading session.

MCX Gold futures for 5 April 2024 settlement rose 0.32% to Rs 69,999.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.03% to 104.22.

The United States 10-year bond yield rose 0.32% to 4.368.

In the commodities market, Brent crude for June 2024 settlement added 60 cents or 0.67% to $89.52 a barrel.

Global Markets:

Asian stocks were trading higher on Thursday taking some positive cues from a mildly stronger overnight close on Wall Street. Markets in Hong Kong, mainland China and Taiwan are closed for a public holiday.

U.S. stocks closed mixed on Wednesday as investors digest comments from U.S. Federal Reserve Chairman Jerome Powell. Powell said it would take a while for policymakers to evaluate the current state of inflation, keeping the timing of potential interest rate cuts uncertain.

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Net profit of Avenue Supermarts rose 17.12% to Rs 690.61 crore in the quarter ended December 2023 as against Rs 589.68 crore during the previous quarter ended December 2022. Sales rose 17.32% to Rs 13572.47 crore in the quarter ended December 2023 as against Rs 11569.05 crore during the previous quarter ended December 2022.

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