Damani's DMart surges 18%, hits fresh record high; stock up 33% in a week

Shares of Avenue Supermarts crossed the Rs 5,000 mark for the first time

Shares of Avenue Supermarts, owner of DMart chain of retail stores, crossed the Rs 5,000 mark for the first time as they rallied 18 per cent to hit a new high of Rs 5,599 on the BSE in intra-day trade on Wednesday on expectations of strong earnings growth.

In the past one week, the stock has outperformed the market by surging 33 per cent, as the company reported strong revenue growth for the July-September quarter (Q2FY22) and added eight new stores. In comparison, the S&P BSE Sensex was up 2.6 per cent during the same period.

The board of