DMart share price BSE,  DMart share price target: Shares of Avenue Supermarts on Thursday, April 4, scaled a new 52-week high of Rs 4,710.15 on the BSE, gaining nearly 5.61 per cent, surpassing the previous peak of Rs 4,590 touched on April 1, 2024. The stock's gains came after Avenue Supermarts Ltd, which owns and operates the retail chain DMart, released its Q4 business update after market hours on Wednesday. The counter closed at Rs 4,641.95, up Rs 182.3 or 4.09 per cent on BSE. 

DMart Q4 business update

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In its Q4 business update, Avenue Supermarts posted a rise in standalone revenue of 20 per cent to Rs 12,393.46 crore (YOY). As of March 31, the total number of stores stood at 365.

"The standalone revenue from operations for QE March 31, 2024, given above, is subject to audit by the Statutory Auditors of the Company," the company's filing said.

DMart share price target: Should you buy/sell/hold Avenue Supermarts shares?

Macquarie has maintained an outperform call on the stock with a target price of Rs 4,500. According to Macquarie, the updates are broadly in line with sales growth, while store additions are ahead of estimates.

Steady improvement in sales growth trajectory, the brokerage said in its note. According to Macquarie, this was a healthy contrast from the last few quarters, which saw weak pre-quarterly commentary.

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