Motilal Oswal advises investors to buy shares of Avenue Supermarts Ltd., with a target price of Rs 5500. The current market price is Rs 5070.05.
Avenue Supermarts Ltd., established in 2000, is a large-cap company with a market capitalization of Rs 321,699.65 crore. It operates in the retail sector.
Products and Revenue
Avenue Supermarts’ key products and revenue come from retailing and other operating income for the year ending March 31, 2023.
Financial Performance
For the quarter ending June 30, 2024, the company reported a consolidated total income of Rs 14,110.74 crore, a 10.55% increase from the previous quarter’s total income of Rs 12,764.42 crore. This also marks an 18.54% increase from the same quarter last year, which had a total income of Rs 11,904.18 crore. The company reported a net profit after tax of Rs 773.68 crore in the latest quarter.
Ownership Structure
As of June 30, 2024, promoters hold 74.65% of the company, while Foreign Institutional Investors (FIIs) own 9.22% and Domestic Institutional Investors (DIIs) hold 7.94%.
Motilal Oswal’s recommendation reflects confidence in Avenue Supermarts’ financial performance and growth prospects in the retail sector.
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