Avenue Supermart Share Price: Avenue Supermart shares rise 3.38 per cent in Wednesday’s trading session

Shares of Avenue Supermarts Ltd. rose 3.38 per cent to Rs 4708.0 in Wednesday’s trade as of 11:00AM (IST) even as the benchmark Nifty ruled at 22229.8, up 345.3 points.

The scrip had closed at Rs 4553.65 in the previous session. The stock quoted a 52-week low of Rs 3493.05 and a high of Rs 4916.15. The company quoted a market-cap of Rs 304868.44 crore on the BSE.

On BSE, 30,674 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 120.21 times its trailing 12-month EPS of Rs 38.97 per share and 15.76 times its book value. The return on equity (ROE) stood at Rs 13.56.

Key Financials

For the quarter ended 31-Mar-2024, Avenue Supermarts Ltd. reported consolidated sales of Rs 12764.42 crore, down 20.11 per cent from the same quarter a year ago. The company reported 22.41 per cent YoY growth in net profit at Rs 563.25 crore for the latest quarter.

Technical indicators

The relative strength index (RSI) of the stock stood at Wednesday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a “buy” or “sell” recommendation using a single valuation ratio.