US brokerage Jefferies has maintained a buy view on Bharti Airtel and MGL while Cummins India received a ratings upgrade from HSBC. Among other notable brokerage actions, BofA reiterated a buy view on NBFC play Bajaj Finance while CLSA initiated a coverage on Avenue Supermarts. Kotak Securities also upgraded IRB Infrastructure to ‘Add’ from an … Read more
Radhakishan Damani-owned Avenue Supermarts, which runs the DMart chain of retail stores, today reported 8.33% YoY rise in March quarter standalone net profit at Rs 505.21 crore. The company’s revenue jumped 21.11% YoY to Rs 10,337.12 crore. While the topline was in-line with analyst estimates, as shown in an ET Now poll, PAT came in … Read more
The Indian market closed in the green on Friday for the third consecutive day. The S&P BSE Sensex rallied by more than 300 points while the Nifty50 closed above 16,200 levels. Sectorally, buying was seen in capital goods, power, utilities, and industrials, while some profit booking was visible in metals, and telecom stocks. Stocks that … Read more
New Delhi: Avenue Supermarts on Saturday reported a 490.30 per cent year-on-year rise in standalone net profit at Rs 680 crore for the June quarter compared with Rs 115 crore in the same quarter last year. In a business update, DMart earlier this week said its standalone revenues jumped nearly two-fold to Rs 9,806.89 crore … Read more
New Delhi: As the result season for the first quarter of the financial year 2022-23 approaches, foreign brokers have turned cautious over Indian equity markets. Goldman Sachs initiated coverage on Delhivery with a neutral rating while Jefferies maintained a bearish view on metal stocks. Goldman Sachs set a target price of Rs 540 on Delhivery … Read more
Mumbai: Avenue Supermarts, owner of , and online job posting website operator (India) are in the running for inclusion in the benchmark Nifty, according to Alternative Research. The brokerage said currently the calculations do not show any confirmed Nifty inclusion or exclusion candidates. Edelweiss said supermarket chain operator Avenue Supermarts meets most of the criteria … Read more
NEW DELHI: Avenue Supermarts (DMart)’s September quarter numbers suggest that while the demand for the company’s FMCG segment has recovered smartly in successive months, it would still take some time before the non-FMCG demand reaches pre-Covid levels. September was the second straight quarter when the Radhakishan Damani-led company reported a fall in both top and … Read more
MUMBAI: Radhakishan Damani-owned Avenue Supermarts may see its profit drop by at least a third in the quarter ended September due to lower footfalls on the back of extended lockdowns amid the Covid-19 pandemic. Kotak Institutional Equities expects the company’s net profit to drop 33.5 per cent year-on-year (YoY) to Rs. 221.7 crore, while it … Read more