Buy Avenue Supermarts, target price Rs 5100: IIFL

IIFL has buy call on Avenue Supermarts with a target price of Rs 5100. The current market price of Avenue Supermarts Ltd. is Rs 4965.2.

Time period given by analyst is Intra Day 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 321315.68 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 30-09-2021, the company reported a Consolidated Total Income of Rs 7816.44 Crore, up 49.90 % from last quarter Total Income of Rs 5214.58 Crore and up 45.87 % from last year same quarter Total Income of Rs 5358.37 Crore. Company reported net profit after tax of Rs 417.76 Crore in latest quarter.

Investment Rationale
Stock futures has witnessed an addition of fresh long positions.

Promoter/FII Holdings
Promoters held 74.99 per cent stake in the company as of 30-Sep-2021, while FIIs owned 9.95 per cent, DIIs 6.77 per cent.