Shares of Avenue Supermart rise as Nifty gains

Shares of Avenue Supermarts Ltd. gained 0.69 per cent to Rs 3477.45 in Wednesday's trade as of 11:07AM (IST). It hit a high of Rs 3496.95 and low of Rs 3466.6 during the session.

The stock quoted a 52-week high price of Rs 4606.0 and a low of Rs 3185.1. The return on equity for the stock stood at 10.94 per cent. About 4,365 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 underperformer, down 14.89 per cent in the past one year in comparison with a 1.33 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 3185.1 on April 12, while the 50-DMA was at Rs 3449.32. 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-2022. Mutual funds and foreign institutional investors held 6.4 per cent and 8.63 per cent stake.