D-Mart Owner Avenue Supermarts' Market Capitalisation Crosses Rs 1 Lakh Crore
D-Mart was in the news after it was added to the MSCI India index from June 1.
Mumbai, June 11: Avenue Supermarts, the owner of D-Mart chain of outlets, surpassed a market capitalisation of Rs 1 lakh crore on Monday morning. The stock hit a fresh all-time high today morning. It opened the day at Rs 1,593.05 and scaled a new record at Rs 1,619.95 so far. The stock therefore, surged over 20 percent from the scrip's low of Rs 1,347 on May 21.
The company’s current market capitalisation stands at Rs 100,440.16 crore. It's been just a year that Avenue Supermarts has entered the stock exchanges, and at that point of time, it was also the first IPO in over 12 years to clock over 100 percent premium on listing.
According to a MoneyControl report, D-Mart was in the news after it was added to the MSCI India index from June 1. In the recently declared results for the March quarter, the company reported a 65.8 percent rise in the December quarter net profit to Rs 251.8 crore as compared to Rs 151.9 crore reported during the same period last year.
(The above story first appeared on LatestLY on Jun 11, 2018 04:28 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).