Radhakishan Damani Avenue Supermarts share may go up to 4699 rupees, says expert – Business News India
read on the appRadhakishan Damani-led Avenue Supermarts Ltd has a 'Buy' rating from brokerage firm Prabhudas Lilladher. However, the stock is down 27% from its 52-week high. On
Wednesday, the company's stock closed at Rs 3,360.65 on the BSE, up 0.091 per cent. The brokerage said it remains 'positive' on Dmart-run Avenue Supermart as it has expanded its
presence across 22 cities, reducing delivery time to one day. The company has also reduced its delivery charge. The brokerage has given a target of ₹4699.With attractive pricing
and a much better consumer proposition than Big Basket, DMart is poised to turn Ebitda positive by FY25 and PAT positive by FY27, Prabhudas said. The brokerage also said that
DMart's huge growth has been attributed to the low prospect of increased competition in modern trading. The brokerage has a 'Buy' rating on it with a target price of ₹4699.
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What did the brokerage say?The brokerage said, "We remain positive on
D'Mart Ready as the company has expanded its presence to 22 cities. Also reduced delivery time to 1 day along with reduction in delivery charges. We believe that attractive pricing
and a far superior consumer proposition as compared to Big Basket (the largest online retailer) will enable DMart Ready to turn EBITDA positive by FY 25-27. Potential of 1500+
stores in existing clusters (current stores 306) and DMart has a huge growth runway considering the rapid growth in DMart Ready.