Avenue Supermarts share price gains on investment of ₹175 crore in DMart E-Commerce arm

Stock Market Today: DMart or Avenue Supermarts Ltd share price gained in the intraday trades on Thursday on the news of investment of ₹175 crore in the E-Commerce arm

DMart or Avenue Supermarts Ltd share price opened at ₹3879.45 on the BSE on Thursday. At the time of opening the Avenue Supermarts share price was trading slightly higher than the previous days closing price of ₹3845.55. The Avenue Supermarts Ltd share price thereafter traded in the range of ₹3828.65 (intraday low) to ₹3879.45 (intraday high)

Avenue Supermarts investment

Avenue Supermarts announced investing ₹174.99 Crore in the subsidiary company Avenue E-Commerce Limited.

Avenue Supermarts announced on the exchanges on Wednesday that it has invested an amount of Rs. 174,99,64,980/- (Rupees One Hundred and Seventy-Four Crores Ninety-Nine Lakhs Sixty-Four Thousand Nine Hundred and Eighty Only) by subscribing to 4,67,78,000 equity shares of Rs. 10/- each of Avenue E-Commerce Limited (AEL), a subsidiary of the Company at an issue price of Rs. 37.41/- per share (including a premium of Rs. 27.41 per share).

Avenue Supermarts share price also remains in focus as it has announced opening of new store at Adoni, Kurnool (Andhra Pradesh) and Haralur, Bengaluru (Karnataka) taking its total number of stores to 398 as on date.

Avenue Supermarts share price has been rebounding well and has risen more than 15% since its 52 week or 1 year lows of ₹3337 seen in 3rd of March.

The Avenue Supermarts share price while had slipped to lows in early March due to sharp correction in the markets., the investor sentiments had also been impacted some weakness in Q3 results.

DMart or Avenue Supermarts had reported a pickup in Same-store growth or SSG, oweer margins had disappointed in Q3FY25 as per analysts. Jefferies India analysts had said that DMart has recently gone through turbulent times, but the worst seems to be over.

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