Avenue Supermarts trades higher for fifth straight day, up 14% in 2 weeks

Analysts believe the gradual unlocking of the nation would lead to positive sales from Q3FY21, supported by improving sales from the general merchandise and apparel category

Shares of Avenue Supermarts, which runs the DMart chain of stores in the country, rose 3.5 per cent to Rs 2,250 on the BSE on Wednesday in an otherwise weak market.

At 12:41 pm, the S&P BSE Sensex was down 1.1 per cent at 40,067 points on the BSE. In the past two weeks, the stock outperformed the market by gaining 14 per cent, as compared to 2 per cent decline in the S&P BSE Sensex.

While announcing the September quarter (Q2FY21) results on October 17, the company’s management said that month-on-month sales have improved during this quarter