The rally translates into over 20 per cent from the stock's low of Rs 1,347 on May 21.
By ETMarkets.com |
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The company was also added to the MSCI India index on June 1.
Shares of Avenue Supermarts wiped off most of their day's gains after scaling fresh all-time of Rs 1,619.95 in morning trade on Monday. The scrip closed 0.05 per cent up at Rs 1,593.80.
Market capitalization the D-Mart owner briefly surpassed Rs 1 lakh crore during the trade. However, the m-cap settled the day at Rs 99,466 crore.
Shares of the company have rallied over 18 per cent since May 21.
Promoter Radhakishan Shivkishan Damani, a low profile investor, made his way into the billionaire list and is among the top 20 richest Indians, with a blockbuster listing of Avenue Supermarts last year.
The company was also added to the MSCI India index on June 1.
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UltraTech Cement, Power Grid, Mahindra & Mahindra, IndusInd Bank, Wipro and Asian Paints are close competitors of Avenue Supermarts in terms of m-cap. However, TCS, Reliance and HDFC Bank are the most valued firms in India.
Avenue Supermarts last month posted 72.9 per cent year-on-year (yoy) growth in net profit at Rs 167 crore for the March quarter. The food and grocery retailer reported Rs 97 crore profit in the year-ago period.
Total revenue for the quarter came in at Rs 3,810 crore, up 22.5 per cent. The company had clocked Rs 3,111 crore sales in the same period last year.
