Avenue Supermarts hits record high; rises over 3% in three days
Avenue Supermarts owns and operates D-Mart stores. D-Mart is a national supermarket chain that offers customers a range of home and personal products.
Shares of D-Mart gained 3.73% in three days from its previous closing low of Rs 3,641.80 on 20 August 2021. The counter hit a record high of Rs 3,843.40 in intraday today. From its 52-week low of Rs 1,949.30 hit on 19 October 2020, the stock has surged 93.8%. On the BSE, 23,235 shares were traded in the counter so far compared with average daily volumes of 14,599 shares in the past two weeks. On NSE, 1,83,474 were traded so far compared with a fortnightly average of 2,05,021 shares.
On the technical front, the stock’s RSI (relative strength index) stood at 80.031. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock is trading above its 50 and 100 days simple moving average placed at 3445.96 and 3203.08 respectively. These levels will act as crucial support zones in the near term.
Avenue Supermarts owns and operates D-Mart stores. D-Mart is a national supermarket chain that offers customers a range of home and personal products under one roof. As of 30 June 2021 the company has 238 stores with Retail Business Area of 9.01 million sq. ft
On a consolidated basis, Avenue Supermarts posted a 137.9% jump in net profit to Rs 95.36 crore on 33.5% rise in net sales to Rs 5,183.12 crore in Q1 FY22 over Q1 FY21.
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