Avenue Supermarts extends rally; stock soars over 25% in three days
By Team Legistify / 2017-04-11

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Avenue Supermarts, which runs D-Mart stores, has seen its market capitalisation (m-cap) crossing Rs 50,000 crore after the stock hit a new high of Rs 803.35 on the National Stock Exchange (NSE) at 10:16 am.

About 407,146 equity shares exchanged hands on the counter, the NSE data shows.  CLICK HERE TO READ FULL DETAILS

At 10:29 am; the stock was up 6% at Rs 796, with m-cap of Rs 49,739 crore, the BSE data shows. A combined 6.49 million equity shares representing 1% of total equity capital of Avenue Supermarts changed hands on NSE and BSE.

In past three trading sessions, the stock has rallied 27%, after Avenue Supermarts said rating agency CRISIL upgraded ratings on the bank facilities of the company. On comparison, the S&P; BSE Sensex was down 0.76% during the period. The stock has gained 167% against its initial public offer (IPO) price of Rs 299 per share.

US-based brokerage JP Morgan in a report released on Friday initiated coverage on the stock with a “neutral” rating. CLICK HERE FOR DETAILS

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