INSUBCONTINENT EXCLUSIVE:
Avenue Supermarts, the owner of D-Mart, hit a fresh all-time high on Monday morning, driving its market capitalisation beyond Rs 1 lakh
The scrip rose 1.13 per cent to Rs 1,608.65 at around 10.30 am
It opened the day at Rs 1,593.05 and scaled a new record at Rs 1,619.95 so far.
The rally translates into over 20 per cent from the stock's
low of Rs 1,347 on May 21
Promoter Radhakishan Shivkishan Damani, a low profile investor, made his way into the billionaire list and is among the top 20 richest
Indians, with a blockbuster listing of Avenue Supermarts last year.
The company was also added to the MSCI India index on June 1
UltraTech Cement, Power Grid, Mahindra Mahindra, IndusInd Bank, Wipro and Asian Paints are close competitors of Avenue Supermarts in terms
However, TCS, Reliance and HDFC Bank are the most valued firms in India.
Avenue Supermarts last month posted 72.9 per cent year-on-year
(yoy) growth in net profit at Rs 167 crore for the March quarter
The food and grocery retailer reported Rs 97 crore profit in the year-ago period
Total revenue for the quarter came in at Rs 3,810 crore, up 22.5 per cent
The company had clocked Rs 3,111 crore sales in the same period last year
