Avenue Supermart shares gain 0.93% as Sensex rises

Shares of Avenue Supermarts Ltd. traded 0.93 per cent higher in Tuesday's session at 10:25AM (IST). The stock opened at Rs 3309.95 and has touched an intraday high and low of Rs 3357.1 and Rs 3304.85, respectively, during the session so far.

The stock quoted a 52-week high of Rs 4606.0 and a 52-week low of 3185.1. About 5,180 shares changed hands on the counter so far.

Benchmark Nifty50 was up 2.6 points at 16988.3, while the BSE Sensex traded 56.99 points higher at 57710.85 at the time of writing of this report.

In the Nifty pack, 26 stocks traded the day in the green, while 24 were in the red.


Key Financials
For the quarter ended 31-Dec-2022, the company reported consolidated sales of Rs 11600.61 crore, up 8.68 per cent from the previous quarter's Rs 10673.9 crore and up 25.5 per cent from the year-ago quarter. The company reported net profit of Rs 589.68 crore for the latest quarter.

Promoter Holdings
Promoters held 74.99 per cent stake in the company as of 31-Dec-2022, while FIIs held 8.63 per cent and MFs 6.4 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 3934.75 on March 28, while the 50-DMA was at Rs 3465.54. If a stock trades 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 as bearish trend and if trades between these averages, then it suggests the stock can go either way.