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    Avenue Supermart shares rise 2.13 per cent in Thursday's trading session

    Synopsis

    The Relative Strength Index of the stock stood at 76.34 on Thursday.

    Brokers trade at computer terminals at stock brokerage firm in MumbaiReuters
    Investors should therefore use dips towards 15,200-15,400 to their advantage to accumulate quality largecaps and midcaps.
    Shares of Avenue Supermarts Ltd. rose 2.13 per cent to Rs 3784.5 in Thursday's trade as of 10:10AM (IST) even as the benchmark Nifty ruled at 18780.1, up 24.2 points.

    The scrip had closed at Rs 3705.75 in the previous session. The stock quoted a 52-week low of Rs 3292.65 and a high of Rs 4606.0. The company quoted a market-cap of Rs 245367.92 crore on the BSE.

    On BSE, 18,113 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 103.16 times its trailing 12-month EPS of Rs 36.69 per share and 13.72 times its book value. The return on equity (ROE) stood at Rs 14.79.

    Key Financials
    For the quarter ended 31-Mar-2023, Avenue Supermarts Ltd. reported consolidated sales of Rs 10627.18 crore, down 20.5 per cent from the same quarter a year ago. The company reported 7.8 per cent YoY growth in net profit at Rs 460.13 crore for the latest quarter.

    Technical indicators
    The relative strength index (RSI) of the stock stood at Thursday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold when it is below 30.

    Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.
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