Shares Of Avenue Supermarts Slips 12 Percent In Two Days To Hit 8 Month Low Know All The Details

Shares Of Avenue Supermarts Slips 12 Percent In Two Days To Hit 8 Month Low Know All The Details
Written by Arindam

Avenue Supermarts Share Price TodayDo you know that there is a big decline in the shares of the company running Supermart. The shares of this company have lost more than 25 percent during the last 6 months. Let us know which is that company and why its shares broke.

Shares of Avenue Supermarts, which runs a chain of D-Mart stores, saw a 5 percent fall on the BSE during intra-day trade on Monday. With this, the company’s shares reached an 8-month low of Rs 3,486.

so much fall

This decline did not stop here, till the writing of the news on Tuesday, it saw a fall of Rs 80 i.e. 2.29 percent. The company’s stock was trading at Rs 3,439.65.

In the last three days, this stock had seen a fall of about 15 percent. The stock was trading near its lowest level since August 11, 2021. It has registered a fall of 41 per cent from its 52-week high of Rs 5,899.90 on October 18, 2021.

Company’s argument

The stock has underperformed the market with a fall of 26 per cent in the past six months, compared to a 10 per cent fall in the S&P BSE Sensex.

It has been said on Friday on behalf of Avenue Supermarts that the meeting of the Board of Directors of the company is going to be held on May 14. In this, the audited financial statements for the quarter and financial year ended March 31, 2022 will be considered and approved.

Corona effect?

In the business update for the January-March quarter (Q4FY22), the company said that it had recorded slightly lower revenue due to some impact of the Omicron Kovid-19 variant. Standalone revenue grew 18 per cent year-on-year to Rs 8,606 crore, up 39 per cent over 4QFY20.

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