Following the announcement of the opening of two new stores in Proddatur, YSR Kadapa in Andhra Pradesh, and Shirdi, Maharashtra, the shares of Avenue Supermarts, the company that operates D-Mart, experienced an increase.This development occurred shortly after the supermarket chain launched a new store in Bengaluru, Karnataka. With these new additions, the company now operates a total of 350 stores across India.Morgan Stanley has given an ‘overweight’ recommendation for Avenue Supermarts, setting a target price of Rs 4,471 per share. The brokerage highlighted that DMart Ready is not just a fast delivery platform but also excels in pricing strategy and SKU availability, surpassing its competitors.Since then, Gangwal or his family have sold shares in three block deals: in September 2022, February 2023, and August 2023. Typically, the stock price experiences a decline in the lead-up and immediate aftermath of each sale. However, three months after the sale, the stock tends to rebound.
Dont you think the market is too unstable to invest anywhere?
Well yeah, the market is too much unstable. I mean look at the placement stats of IIT’s and NIT’s. Also, comapanies are laying off. No security of job.