Avenue Supermarts share: DMart shares dip as exchange seeks clarification on Friday stock rise

Stock market today: Avenue Supermarts, the owner of retail chain DMart, witnessed a decline of nearly 2% in its stock on Monday, January 6 amid a weak market mood and as stock market exchange BSE sought clarification from the company regarding the movement in volumes.

DMart on January 2, post-market hours, posted a strong provisional update for the third quarter of the financial year 2024-25 (Q3 FY25), which sparked a 15% rally in the company's stock on Friday, January 3.

In Q3, DMart said its standalone revenue from operations rose 17.49% to ₹ ₹15,565.23 crore from ₹ ₹13,247.33 posted in the corresponding quarter last year. The figure was also higher on a sequential basis. Furthermore, the company added 10 stores during the quarter, taking its total store count to 387 from 377 in the September quarter.

The stock ended the day 11.47% higher at ₹4,025.20.

DMart Clarification On Volume Movement

Against the sharp rise in stock and movement in volume, the BSE today sought clarification from Avenue Supermarts.

The company in response said that it has complied with all relevant disclosure norms under SEBI rules and that there is no material information that has not been disclosed, having a bearing on the volume behaviour in the scrip.

Therefore, the said movement in the volume of shares of the company is purely market-driven, Avenue Supermarts added in an exchange filing.

Following this update, DMart share price dropped 1.84% to the day's low of ₹3.948.85 apiece. Despite today's decline, the stock trades nearly 11% higher in January so far.

DMart Q3 Results Date

In a filing on Friday, post-market hours, the company also informed about a board meeting slated for this week to consider the financial results for Q3 FY25.

"We wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Saturday, January 11, 2025, to, inter alia, consider and approve the Un-audited Standalone & Consolidated Financial Results of the Company for the quarter and nine-months ended December 31, 2024," the release stated.

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