DMart slips 15% in 4 days, hits over 3-month low on weak Q1 earnings

The stock has fallen below its QIP issue price of Rs 2,049 per share

Shares of Avenue Supermarts, which runs the DMart chain of stores, were trading lower for the fourth straight day, falling 8 per cent to Rs 1,981 on the BSE on Thursday after the company reported a sharp 34 per cent fall in revenues in the June quarter (Q1FY20). The stock has fallen below its qualified institutional placement (QIP)  issue price of Rs 2,049 per share.

Avenue Supermarts shares hit an over three-month low today, trading at its lowest level since March 25, 2020. Thus far in the current week, the stock has fallen 15 per cent, after the company