Retail sector stock V2 Retail has delivered 95% returns in just 10 trading sessions as customers have been buying essential commodities such as rice, flour, pulses and others items in bulk, anticipating shortage of supplies during the lockdown. PM Narendra Modi on March 24 announced a 21-day lockdown from March 25 to contain the rising number of coronavirus cases and deaths in the country.
V2 Retail share price which stood at Rs 33.65 on March 24 climbed to Rs 65.75 in intra day trade today. An investment of Rs 1 lakh in this stock on March 24 would have turned to Rs 1.83 lakh now. The microcap stock has gained 20% in last one week compared to a 9.63% rise in Sensex during the period.
However, the retail sector stock has lost 37.11% since the beginning of this year and has fallen 76.83% during the last one year.
V2 Retail share opened with a gain of 4.95% today at Rs 65.75 compared to the previous close of Rs 62.65 on BSE.
Other retail sector stocks have also gained on the positive sentiment around the retail sector.
Avenue Supermarts, Spencer's Retail and V-Mart have logged strong gains since the lockdown to contain coronavirus cases began on March 24. Since then, share of Avenue Supermarts, the parent of retail store chain D-Mart, has gained 33.14%.
On March 24, the stock stood at Rs 1,813 on BSE. The large cap stock hit an intra day high of Rs 2,414 today which was also the upper circuit of 5% on BSE. It has gained 15% in last three days.
The stock has gained 30.51% since the beginning of this year and has risen 61.85% during the last one year. In the last one week, it has rallied 14.62%. Similarly, Spencer's Retail has risen 37.84% since the beginning of the lockdown. The stock which stood at Rs 56.15 on March 24 climbed to Rs 77.40 in intra day trade today.
The retail sector stock has gained 31.66% since the beginning of this year but has fallen 53.29% during the last one year. Another retail player V-Mart retail has gained 23.88% during the lockdown. On March 24, the stock stood at Rs 1,348. It has surged up to Rs 1670 today.