Avenue Supermarts hits new high

D-Mart

D-Mart with an m-cap of Rs 55,712 crore entered into the list of top-50 most valuable companies.

 

LATEST  NEWS   : Avenue Supermarts, which operates supermarket chain D-Mart, has rallied 7% to Rs 910 on BSE, its highest level since listing on March 21, 2017.

 

Shares of Avenue Supermarts (D-Mart) which is promoted by veteran ace investor Radhakishan Damani, rose 204% against its initial public offer (IPO) price of Rs 299 per share. The company raised Rs 1,870 crore was subscribed more than 100 times.

 

Since March 21, 2017, the shares of D-Mart have outperformed the market by surging 42% compared with a gain of 6.5% in S&P BSE Sensex.

 

At 01:41 pm; the stock was up 5.5% at Rs 893 against 0.53% rise in the benchmark index.

 

A sharp surge in market price has led D-Mart to enter into the list of the top-50 most valuable companies in terms of market capitalisation (m-cap).

 

D-Mart with an m-cap of Rs 55,712 crore stood at 47th position in overall m-cap ranking, surpasses Tata Steel and Cadila Healthcare, the BSE data shows. It was at 65th position with m-cap of Rs 39,988 crore at the end of first day of its listing.

Since then, D-Mart has notched 18 positions and surpassed the m-cap of Lupin, Hindustan Petroleum Corporation (HPCL), Zee Entertainment Networks, Dabur India, Tech Mahindra and JSW Steel among few.

 

D-Mart focused on value retailing, it offers a wide range of fast-moving consumer (food and non-food) products, general merchandise and apparel.

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