Shares of Avenue Supermart rise as Nifty gains

Shares of Avenue Supermart rise as Nifty gains
ETMarkets.com
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Synopsis

On the technical charts, the 200-day moving average of the stock stood at Rs 4081.42.

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Nifty moved in a tight range of 82 points, and ended slightly below the psychologically crucial level of 15,700.
Shares of Avenue Supermarts Ltd. gained 2.32 per cent to Rs 4083.3 in Tuesday's trade as of 10:15AM (IST). It hit a high of Rs 4085.4 and low of Rs 4015.1 during the session.

The stock quoted a 52-week high price of Rs 5899.9 and a low of Rs 2677.0. The return on equity for the stock stood at 9.02 per cent. About 6,479 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.

The scrip has been an outperformer, up 28.08 per cent in the past one year in comparison with a 7.91 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 2677.0 on March 08, while the 50-DMA was at Rs 4290.87. 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-Dec-2021. Mutual funds and foreign institutional investors held 6.23 per cent and 9.44 per cent stake.

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