Avenue Supermarts Ltd, the parent company of D-Mart joined an elite group of firms that have seen their market capitalization soar over Rs 1 trillion, Mint reported on Monday.
Avenue Supermarts Ltd, the parent company of D-Mart joined an elite group of firms that have seen their market capitalization soar over Rs 1 trillion, Mint reported on Monday.
“In morning trade, the firm saw its market capitalisation touch Rs100,320 crore with its shares trading at a record high of Rs1,619.95, up 1.68% from previous close, showed data from BSE,” the report added.
With 441% rise from the issue price of Rs 299 and 153% since listing on March 21, 2017, it has now entered the Rs1-lakh-crore club in market cap. Recently, its promoter Radhakishan Damani sold 1% of total equity of the company for achieving minimum public shareholding.
Shares of the company rose by 1.68% to Rs 1,619.95 -- their 52-week high - in intra-day trade on BSE. However, later the stock trimmed most of its early gains and closed at Rs 1,593.80, up 0.05%.
Taking the intra-day high price in consideration, the company's market valuation rose to Rs 1,01,098 crore. But at close of the session, its market capitalisation (m-cap) slipped to Rs 99,466.59 crore.
On NSE, shares of the company closed with 0.05 per cent gains at Rs 1,594.40.
In terms of equity volume, 1.22 lakh shares of the company were traded on BSE and over 8 lakh shares changed hands on NSE during the day.
The company stands at 29th position in the overall m-cap ranking on BSE.
In 2017, Avenue Supermarts made a stellar debut on the bourses, surging up to 102% against the issue price of Rs 299.
The stock listed at Rs 604.40, registering a sharp gain of 102.4% over the issue price on BSE. It later soared 105.68% to Rs 616.25.
At NSE, shares of the company opened at Rs 600, up 100%.
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