In Monday's trade, the stock of Avenue Supermarts added a new feather in its cap by hitting a market cap of Rs. 1 lakh crore. The stock in early morning trade jumped in share price to record a 52-week high of Rs. 1619.95 on the BSE. On the NSE, the stock hit a 52-week high of Rs. 1618.80.
The surge came in after the company's promoter Radhakishan Damani sold 1% stake or close to 6.2 million shares of the company last week to meet the minimum public shareholding norm. Effective June 1, the stock was included in the MSCI India Domestic and MSCI India Domestic Small Cap Index.
In the quarter ended March, D-Mart reported a net profit of Rs 167 crore, higher by 73% in comparison to the corresponding period a year ago. Total revenue also saw an increase by 22.5% to Rs. 3,810 crore.
The scrip since its listing on the bourses in March 2017 has surged in value by as much as 373.86%.
Avenue Supermarts Ltd, founded in the year 2002, with headquarters in Mumbai owns and operates DMart that runs a chain of supermarkets and hypermarket in India.