Despite most analysts having a ‘buy’ rating on the Avenue Supermarts stock, the Street is increasingly turning less optimistic on the retail major.
After the recent ‘underperform’ rating initiated by Morgan Stanley and ‘reduce/sector underperformer’ rating of Edelweiss, nearly 60 per cent of analysts tracking the stock have a ‘sell’ rating on it. In an industry where cost structures are hard to curb and attractive operating margin is elusive, Avenue Supermarts, which operates the DMart chain of supermarkets, found acceptance among ...
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