Shares of Avenue Supermart rise as Nifty drops

Shares of Avenue Supermart rise as Nifty drops
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Synopsis

On the technical charts, the 200-day moving average of the stock stood at Rs 2735.8.

Once equity investing is viewed as a viable alternative to savings in the form of assets like property, gold and bank deposits, we may witness a spread of liquidity to a broader set of stocks.
Shares of Avenue Supermarts Ltd. gained 0.03 per cent to Rs 3343.55 in Thursday's trade as of 12:35PM (IST). It hit a high of Rs 3376.15 and low of Rs 3325.0 during the session.

The stock quoted a 52-week high price of Rs 3408.0 and a low of Rs 1900.0. The return on equity for the stock stood at 9.02 per cent. About 4,204 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.0.

Did you Know?

Stock score of Avenue Supermarts Ltd moved up by 1 in a week on a 10-point scale.

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The scrip has been an underperformer, up 46.05 per cent in the past one year in comparison with a 47.79 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 1900.0 on July 01, while the 50-DMA was at Rs 3076.83. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 74.99 per cent stake in Avenue Supermarts Ltd. as of 31-Mar-2021. Mutual funds and foreign institutional investors held 6.07 per cent and 10.17 per cent stake.

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