V-Mart Retail stock zoomed nearly 8% today after Amansa Holdings bought 1,62,282 shares of the retailer at Rs 2,800 apiece in a bulk deal on BSE. The stock opened 7.85% higher at Rs 3,080 against the previous close of Rs 2,855.75 on BSE. Later, V-Mart Retail shares saw profit-booking and trimmed a majority of their gains. The share has lost 29.09% in one year and gained 1.15% since the beginning of this year.
Total 1578 shares of V-Mart Retail changed hands amounting to a turnover of Rs 45.72 lakh on BSE. The market cap of the retailer stood at Rs 5,697 crore. The stock hit a 52-week high of Rs 4,156.95 on January 19, 2022 and a 52-week low of Rs 2,406 on June 27, 2022. Currently, the stock is trading 30.60% lower compared to its 52-week high.
In technical terms, the retail stock’s relative strength index (RSI) of V-Mart Retail stands at 49.4, signaling neither the stock is overbought or oversold. The stock has a one-year beta of 0.6, indicating very low volatility during the period. The stock is trading higher than the 5-day, 50-day and 100-day moving averages but lower than 20-day and 200-day moving averages.
In the September quarter of the current fiscal, net loss narrowed to Rs 11.31 crore against Rs 14.14 crore in the corresponding quarter of the previous fiscal. Sales zoomed 49.76% to Rs 506.16 crore in Q2 against Rs 337.97 crore sales in the September quarter of 2021. Operating profit excluding other income zoomed 159.47% to Rs 53.58 crore in the September quarter gone by against Rs 20.65 crore in the comparable quarter of the previous fiscal.
The retailer is yet to announce its earnings for the quarter ended December 2022.
V-Mart Retail Limited is an India-based retail store chain that offers readymade garments and accessories. The company is engaged in value retailing through a chain of stores situated in various places in India. It operates through the retail sales segment. It offers products across three verticals, which include apparel, general merchandise (non-apparel and home mart), and Kirana bazaar.
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today