Shares of Avenue Supermarts, which operates supermarket chain DMart, hit an all-time high of Rs 4,837, rising more than nine percent on BSE. The company's market capitalisation crossed the Rs 3-lakh crore mark.
The company’s market capitalisation is the same as Asian Paints but more than ITC, Larsen & Toubro, Maruti Suzuki India, Axis Bank, Oil & Natural Gas Corporation, Nestle India, Tata Steel, JSW Steel, Nestle India and even Titan Co.
Avenue Supermarts is now the 15th largest company in India by market capitalisation.
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It is still the only non-F&O stock to cross the market capitalisation of 3 lakh crore.
So far this year, the company’s scrip has jumped over 70 percent.
At 1451 IST, shares were up 9.1 percent at Rs 4,809.80.
To put it into perspective, the stock has surged more than 16 times the IPO price of Rs 299 from the record high. Whereas, looking at those who bought the stock on a listing day at Rs 600 saw the stock rising more than eight times.
The stock has been gaining for the last three days and has risen nearly 14 percent during the period.
Avenue Supermarts is trading higher than 5, 20, 50, 100 and 200-day moving averages, which hinted at a bullish trend in the stock.
First Published: IST