D-Mart, Varun Beverages, Radico Khaitan, Edelweiss Financial hit new highs

Shares of Avenue Supermarts that runs the D-Mart retail stores, Radico Khaitan, Varun Beverages, Edelweiss Financial Services, Biocon, Hexaware Technologies, Kotak Mahindra Bank and MM Forgings were among 13 stocks from the S&P BSE 500 and Smallcap index that hit new high on the BSE in otherwise range-bound market.
Berger Paints, JMC Projects, GMM Pfaudler, Take Solutions and Pidilite Industries, too, hit their respective all-time highs on the BSE in intra-day trade today. On comparison, the S&P BSE Sensex was trading 0.41% lower at 35,021 points at 01:55 pm.

Radico Khaitan rallied 9% to Rs 479 on the BSE. Thus far in the month of May, the stock surged 14% after the company reported a more than doubled net profit at Rs 342 million in March 2018 quarter. It had profit of Rs 166 million in the same quarter last fiscal.

MM Forgings surged 10% to Rs 1,292, extending its previous day’s 4% gain on the BSE after the board of directors of the company recommended issue of bonus shares in the ratio of 1:1 i.e. one bonus equity share for every one share held on the record date.

Hexaware Technologies hit a new high of Rs 459, up 6% on the BSE, gaining 19% post March quarter results on May 4, 2018. The company reported a better than expected 11% sequential growth in its consolidated net profit at Rs 1.34 billion in March quarter (Q1CY18). Revenue grew 4.4% at Rs 10.49 billion over the previous quarter.

Analysts on an average had expected profit of Rs 1.29 billion on revenue of Rs 10.37 billion from the information technology company. On CC (constant currency) terms revenue growth was 3.3% at $161.2 million against analyst estimate of 2.5% during the quarter.

D-Mart falls 11% in two days on promoter R K Damani upto 1% stake sale plan

Shares of Avenue Supermarts - the operators of retail chain D-Mart, have fallen 6% to Rs 1,338 per share, extending their 5% drop on the BSE on Friday after the company announced that promoter R K Damani would pare his stake to comply with the shareholding norms.
D-Mart lost Rs 93.21 billion market-cap in past two days from Rs 933.10 billion on Thursday, May 17, 2018 to Rs 839.89 billion at 12:26 pm; the BSE data shows.

Damani plans to sell 6.24 million shares (about 1%) between May 21 and June 14 in the open market. Currently, the total promoter holding in Avenue Supermarts is 82.2%, which needs to be brought down to at least 75% by March 2020. Damani in his personal capacity holds 39.41% stake in the company.

Damani has given an undertaking that he would not buy any equity shares when the open market share sale is underway.

Since listing on March 21, 2017, shares of Avenue Supermarts have risen 133% till Thursday. It zoomed as much as 400% from the issue price of Rs 299 offered at the time of its initial share sale. It touched an all-time high of Rs 1,534 on April 30, 2018 in intra-day trade.

Avenue Supermarts falls 4% post Q4 results

Avenue Supermarts , which operates the chain of D-Mart stores, has dipped 4% to Rs 1,433 on the market on profit booking despite the company reported a 72.9% year-on-year (y-o-y) growth in its net profit to Rs 1.67 billion in the fourth quarter of FY18. Total Revenue during the period was up 22.4% y-o-y to Rs 38.10 billion.
Analysts on an average had expected profit of Rs 1.86 billion on revenue of Rs 37.77 billion for the quarter.

The company’s EBITDA (earnings before interest, tax, depreciation and amortization) margin improved 100 bps from 6.7% in Q4FY17 to 7.7% in Q4FY18.

Motilal Oswal Securities had expected net profit growth of 82% and revenue growth of 125% y-o-y for the quarter. The broker firm Prabhudas Lilladher expected EBITDA margin improvement of 230bps to 9%.

Like for like growth of Avenue Supermarts has declined from 21.2% in FY17 to 14.2% in FY18.

“FY18 SSS growth at 14.2% (vs. 21.2% in FY17) was impacted by price deflation across staples, change in tax rates post GST (c3% impact in our view) and adverse base due to demonetization,” analysts at IIFL Institutional Equities said in result update.

Avenue Supermarts, Tech Mahindra gain after block deals

Shares of Avenue Supermarts, which owns and operates D-Mart retail chain, and IT consulting & software company Tech Mahindra have moved higher by upto 6% on the bourses after the huge block deals executed on these counters.

Tech Mahindra was up 5% at Rs 497, bouncing back 6% from early morning low on the National Stock Exchange (NSE). Till 01:51 PM; around 6.35 million equity shares representing 0.65% stake in the company changed hands on the NSE, the exchange data shows.

Avenue Supermarts too moved higher by 5% to Rs 1,176 on the BSE in intra-day trade, after more than two million shares changed hands through block deals. Around 2.2 million shares or 0.35% of total equity of the company changed hands so far, the BSE data shows.

The name of the buyers and sellers were not ascertained immediately.

D-Mart hits new high; shares surge 18% in weak market on heavy volumes

Shares of Avenue Supermarts, which owns and operates D-Mart retail chain, on Tuesday, hit a new high of Rs 1,218, up 18% on the National Stock Exchange (NSE) in intra-day trade in an otherwise weak market on heavy volumes.

At 1:38 am, the stock was trading 17% higher at Rs 1,209, as against rangebound movement on the Nifty50 index. The trading volumes on the counter nearly doubled with a combined 1.5 million shares changed hands on the NSE and BSE so far.

According to media reports, the global financial services firm Goldman Sachs initiated coverage of the stock with ‘Buy’ rating and set a target price of Rs 1,586.

D-Mart which is promoted by veteran ace investor Radhakishan Damani rose 276% against its initial public offer (IPO) price of Rs 299 per share. The stock had ended at Rs 642 on its stock market debut on 21 March, 2017, and has rallied 75% since then. On comparison, the benchmark Nifty50 index gained 7% during the same period.

D-Mart is an emerging national supermarket chain that offers customers a range of home and personal products under one roof. The Company offers a wide range of products with a focus on foods, non-foods (FMCG) and general merchandise & apparel product categories.

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Avenue Supermarts hits new high; up over 200% against IPO price

STOCK MARKET - Avenue Supermarts, which operates supermarket chain D-Mart stores, hit a new high of Rs 996, up 4% in intra-day trade, extending Tuesday’s 3% gain on the National Stock Exchange (NSE). The stock is trading at its highest level since listing on March 21, 2017.

Avenue Supermarts (D-Mart) which is promoted by veteran ace investor Radhakishan Damani rose 233% against its initial public offer (IPO) price of Rs 299 per share. The stock had ended at Rs 642 on first day of its listing, and has rallied 55% since then. On comparison, the benchmark Nifty50 index gained 6% during the same period.

D-Mart is an emerging national supermarket chain that offers customers a range of home and personal products under one roof. The Company offers a wide range of products with a focus on foods, non-foods (FMCG) and general merchandise & apparel product categories.

The company had reported 48% year on year growth in its reported net profit of Rs 175 crore in June 2017 quarter (Q1FY18) as compared to Rs 118 crore in the corresponding quarter of last fiscal. The company’s EBITDA ((earnings before interest, taxation, depreciation and amortisation) margin was at 8.4% in Q1FY18 as compare to 8.8% in Q1FY17.

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