Buy Avenue Supermarts, target price Rs 4550: Axis Securities

Axis Securities has buy call on Avenue Supermarts with a target price of Rs 4550. The current market price of Avenue Supermarts is Rs 4159.6. Time period given by analyst is 4 weeks when Avenue Supermarts Ltd. price can reach defined target.

Avenue Supermarts Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 267861.31 Crore) operating in Retail sector.

Avenue Supermarts Ltd. key Products/Revenue Segments include Income from Retailing and Other Operating Revenue for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 9243.72 Crore, up 18.26 % from last quarter Total Income of Rs 7816.44 Crore and up 21.83 % from last year same quarter Total Income of Rs 7587.32 Crore. Company reported net profit after tax of Rs 552.53 Crore in latest quarter.

Investment Rationale
The daily strength indicator RSI is in bullish mode along with positive crossover which supports rising strength in near term.

Promoter/FII Holdings
Promoters held 74.99 per cent stake in the company as of 31-Dec-2021, while FIIs owned 9.44 per cent, DIIs 6.73 per cent.