D-Mart Supermarts Shares Decline 5% Amid Lockdown
Shares of Avenue Supermarts fell 5 per cent on Monday after the company, which owns and operates retail chain D-mart, said operations of half of its stores are closed, following the directions issued by authorities amid the lockdown.
New Delhi, April 13: Shares of Avenue Supermarts fell 5 per cent on Monday after the company, which owns and operates retail chain D-mart, said operations of half of its stores are closed, following the directions issued by authorities amid the lockdown.
The scrip declined 4.99 per cent to Rs 2,287.90 on the BSE. On the NSE, it dropped 4.99 per cent to Rs 2,273.05. The company is retailing only essential items from the operating stores and average footfall is "significantly lower than usual" due to several restriction imposed by the authorities, Avenue Supermarts said on Friday. "Nearly 50 per cent of our stores remain closed for operations based on directive by the local authorities," it said.
Moreover, in the operating stores, footfall depends on the movement and timing restrictions enforced by the local authorities, it added. The Mumbai-based company, has presence in 206 locations through D-mart stores.