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D-Mart operator Avenue Supermarts crosses Rs 1 lakh crore in market capitalisation, stock hits lifetime high

The surge in the stock price took the market capitalization of the firm to a record Rs 1,01,099 crore on BSE. The stock has been gaining for the last four days and has risen 9.74% during the period.

twitter-logo BusinessToday.In        Last Updated: June 12, 2018  | 09:02 IST
Avenue Supermarts crosses Rs 1 lakh crore market capitalisation, hits lifetime high

The Avenue Supermarts stock crossed the market capitalization of Rs 1 lakh crore today for the second time within a span of just 10 days. The stock of Mumbai-based Radhakishan Damani-led hypermarket operator rose 1.69% today to an all-time high of Rs 1,619.95 in early trade on BSE. The stock rose 1.58% to an all-time high of Rs 1,618.8 on NSE.

The surge in the stock price took the market capitalization of the firm to a record Rs 1,01,099 crore on BSE. The stock has been gaining for the last four days and has risen 9.74% during the period.

The stock has risen 98.88% during the last one year. Since the beginning of this year, the stock has gained 35.08% on the BSE. The stock closed at Rs 1593.80 rising 0.05% on the BSE.

In terms of equity volume, 1.22 lakh shares of the company were traded on BSE and over 8 lakh shares changed hands on NSE during the day.

The company stands at 29th position in the overall market capitalisation ranking on BSE.

Its market capitalization stood at Rs 99,466 crore. This is the second time the stock has hit market capitalisation of Rs 1 lakh crore. On May 31, 2018, the stock breached the Rs 1 lakh crore market capitalisation for the first time ever. 

It achieved the feat in the last 30 minutes of trade.  The stock rose to a new high of Rs 1,606 on BSE rising 2.69% that day. Its market capitalization surged to Rs 100,228 crore on the BSE.

The initial public offer (IPO) of hypermarket and supermarket chain D-Mart hit the market for three days on March 8, 2017.

The stock got listed on bourses on March 21, 2017 at 102% premium (Rs 604.40) over issue price of Rs 299 apiece. Since then, the stock has gained 432% over issue price taking into account today's closing price of Rs 1,593.80 on the BSE. The supermarket chain reported a 72.9 per cent year-on-year (YoY) rise in net profit at Rs 167 crore for the quarter ending March 31, 2018.

The food and grocery retailer reported Rs 97 crore profit in the year-ago quarter. The firm clocked Rs 3,810 crore in revenue, up 22.5 per cent YoY. The company had reported Rs 3,111 crore sales in the same period last year. Interestingly, the stock fell 4 per cent on bourses after the Q4 earnings of the firm announced.

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