Avenue Supermarts hits new high

D-Mart with an m-cap of Rs 55,712 crore entered into the list of top-50 most valuable companies.

Avenue Supermarts, which operates supermarket chain D-Mart, has rallied 7% to Rs 910 on BSE, its highest level since listing on March 21, 2017.

Shares of Avenue Supermarts (D-Mart) which is promoted by veteran ace investor Radhakishan Damani, rose 204% against its initial public offer (IPO) price of Rs 299 per share. The company raised Rs 1,870 crore was subscribed more than 100 times.

Since March 21, 2017, the shares of D-Mart have outperformed the market by surging 42% compared with a gain of 6.5% in S&P BSE Sensex.

At 01:41 pm; the stock was up 5.5%