This supermart’s shares slide 6% as brokerages cut target price; Read to know why – Market News
DMart, operated by Avenue Supermarts, declared its Q3 numbers over the weekend. Avenue Supermarts shares plunged 6% in Monday trade to an intra-day low of Rs 3,469.95. The fall in stock price came after brokerage houses cut the target price on Avenue Supermarts as they see pressure on margins poon high competition from quick commerce companies.
Here are 4 reasons why Avenue Supermarts’ (DMart) shares are falling
1. Motilal Oswal cuts target price
The brokerage house, Motilal Oswal, slashed the target price on Avenue Supermarts to Rs 4,450 from Rs 4,750, down 6.3%. This is still a 21% upside from the current market price of Rs 3,686.25. It has a ‘Buy’ rating on the stock. The brokerage firm said that the company is facing…
