Shares of Avenue Supermarts Ltd i.e. DMart remain in focus today. Both the stock market indices are trading in the red. Meanwhile, there has been a tremendous rise in DMart shares. This rise in the stock has come after the report of the brokerage firm.
At 10.30, DMart stock price was trading at Rs 4120.00 per share, up 14 percent.
What is the report of the brokerage firm?
D-Mart recently said in its third quarter update that the company’s standalone revenue in Q3 increased by 17.18 percent year-on-year to Rs 13,247.33 crore. It was Rs 11,304.58 crore in the same quarter last year.
According to Motilal Oswal Financial Services (MOFSL), the financial performance of DMart company has been quite good. The company has performed much better in the third quarter as compared to the second quarter of the current financial year. In the third quarter, the company’s revenue growth has been 17-20 percent on an annual basis. After the good financial performance of the company, the brokerage firm has suggested ‘Buy’ and increased the share price target (D-Mart Share Price Target) to Rs 5,300.
What is the performance of the stock?
Talking about DMart Share Performance, according to BSE Analytics the company’s shares have given a return of 11 percent in the last one year. However, in the last six months the company has given negative returns of 0.81 percent.
Disclaimer: This information is for informational purposes only and should not be construed as investment advice. It is recommended to consult a financial advisor before making investment decisions.