Share price of Avenue Supermart rises as Nifty weakens

The return on equity (ROE) for the stock stood at 10.94 per cent. Traded volume on the counter stood at 10:35AM shares and turnover at Rs 3.85 crore around that time. The stock of Avenue Supermarts Ltd. quoted a 52-week high price of Rs 5899.9 and 52-week low prices of Rs 3185.1, respectively.

The stock’s Beta value, which measures its volatility in relation to the broader market, stood at 1.0.

Promotor/FII Holding

Promoters held 74.99 per cent stake in the company as of 30-Jun-2022, while FIIs held 8.59 per cent and domestic institutional investors had 6.33 per cent.

Key Financials

The company reported consolidated sales of Rs 10067.21 crore for the quarter ended 30-Jun-2022, up 14.15 per cent from previous quarter’s Rs 8819.02 crore and up 93.06 per cent from the year-ago quarter’s Rs 5214.58 crore. Net profit after tax for the latest quarter stood at Rs 642.93 crore, up 574.14 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bullish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.

It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect “buy” or “sell” opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.