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    Avenue Supermart shares gain 0.33% as Sensex rises

    Synopsis

    The stock quoted a 52-week high of Rs 4606.0 and a 52-week low of Rs 3292.65.

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    India 10-year bond yield declined 0.40 per cent to 5.98 after trading in 5.98 -6.04 range.
    Shares of Avenue Supermarts Ltd. traded 0.33 per cent higher in Wednesday's session at 01:32PM (IST). The stock opened at Rs 3520.05 and has touched an intraday high and low of Rs 3547.15 and Rs 3518.0, respectively, during the session so far.

    The stock quoted a 52-week high of Rs 4606.0 and a 52-week low of 3292.65. About 3,466 shares changed hands on the counter so far.

    Benchmark Nifty50 was up 80.6 points at 18679.6, while the BSE Sensex traded 183.12 points higher at 62976.0 at the time of writing of this report.

    In the Nifty pack, 39 stocks traded the day in the green, while 11 were in the red.


    Key Financials
    For the quarter ended 31-Mar-2023, the company reported consolidated sales of Rs 10627.18 crore, down 8.39 per cent from the previous quarter's Rs 11600.61 crore and down 20.5 per cent from the year-ago quarter. The company reported net profit of Rs 460.13 crore for the latest quarter.

    Promoter Holdings
    Promoters held 74.93 per cent stake in the company as of 31-Mar-2023, while FIIs held 8.17 per cent and MFs 6.75 per cent.

    Technicals
    On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 3853.34 on June 07, while the 50-DMA was at Rs 3493.25. 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.
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