Watch out for these key levels on SBI and Bank of Baroda, while Tech Mahindra and DMart can be avoided for now.
Though January 2022 started extremely well but the omicron wave reduced the momentum over middle of the month.
Standalone revenue rose 18% to Rs 8,606 cr
In the past six months, the stock has underperformed the market by falling 26 per cent as compared to a 10 per cent decline in the S&P BSE Sensex.
Growth in the quarter has largely come from store additions
Nifty 50 is back to 18,000, still half of Nifty 500 stocks trade below 200-DMA
According to Mehul Kothari of Anand Rathi, traders can buy Avenue Supermarts near the 4,150-mark with a stop loss of 3,950 for upside target of 4,550 in 3-5 weeks.
The management indicated that it continues to monitor the current situation, wherein the trend in sales and footfall will depend on any local pandemic related restriction on trade activities.
Moderation in growth trajectory going ahead, owing to Covid-related disruptions, along with extremely stretched valuations, cap near-term upside in the stock price
Standalone revenue rose 22% to Rs 9,065 crore
The company had revenue from operations of Rs 7,432.69 crore in the October-December quarter a year ago, Avenue Supermarts informed BSE in a regulatory filing