Avenue Supermarts stock climbs 5% on two-fold rise in Q1 revenue

Avenue Supermarts shares zoomed 5 per cent in volatile trade today after the firm reported a nearly two-fold rise in its standalone revenue from operations to Rs 9,806.89 crore for the first quarter ended on June 30, 2022.

Shares of Avenue Supermarts gained 4.96 per cent to Rs 3,554.7 against the previous close of Rs 3,386.85 on the Bombay Stock Exchange (BSE). Total 0.16 lakh shares of the firm changed hands amounting to turnover of Rs 5.59 crore on the BSE. Market cap of the firm rose to Rs 2.26 lakh crore on BSE.

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The share hit a 52-week low of Rs 3,185 on May 16, 2022 and a 52-week high of Rs 5,899.10 on October 18, 2021.  The stock has gained after three days of consecutive fall. It opened 4.46 per cent higher at Rs 3,538 on BSE.

The large-cap stock is trading higher than 5-day moving averages but lower than 20-day, 50-day, 100-day and 200-day moving averages.

The stock has gained 5.33 per cent in a year and fallen 25.26 per cent since the beginning of this year.

The Radhakishan Damani-led firm had reported revenue from operations of Rs 5,031.75 crore in the April-June quarter a year ago.

"Standalone Revenue from operations for the quarter ended (QE) June 30, 2022 stood at Rs 9,806.89 crore," said the operator of retail chain D-Mart in a company update at the end of the first quarter. The total number of stores as of June 30, 2022 stood at 294, it added.