Avenue Supermarts nears record high; zooms 45% in 8 weeks

The stock was up 2% to Rs 1,649, trading close to its record high level of Rs 1,682 touched on August 2, 2018, on BSE in the intra-day trade.

Shares of Avenue Supermarts (ASL), which owns and operates D-Mart supermarket chain, were up 2% to Rs 1,649 a piece, trading close to its record high level of Rs 1,682 touched on August 2, 2018, on BSE.

In the past eight weeks, since October 23, the stock outperformed the market by surging 45% from Rs 1,136, as compared to a 7% rise in the S&P BSE Sensex.

Between August 1, and October 23, it fell 32% after the company reported a disappointing result for the second quarter of current fiscal on margin front. In comparison, the benchmark index was down