INSUBCONTINENT EXCLUSIVE:
New Delhi: Market veteran Radhakishan Damani-led Avenue Supermarts took a hit with the outbreak of the coronavirus pandemic.
In its recent
business update on Friday, the company said nearly 50 per cent of its stores remain closed for operations based on directive by the local
authorities.
Footfalls are also significantly lower, Avenue Supermarts said in a regulatory filing, while adding that it is selling
essential items such as grocery and FMCG products.
However, it has stopped the sale of non-essential items like general merchandise and
during the first week of April
the company said.
Shares of the company have managed to outperform the market since the beginning of the 21-day nationwide lockdown.
The
scrip climbed nearly 27 per cent to Rs 2,408.30 on April 9 from Rs 1,903.70 on March 25
On the other hand, the benchmark BSE Sensex gained 9.19 per cent during the same period.
