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Avenue Supermarts Shares Plunge 6 Percent Following Citi Sell Rating
M
Moneycontrol•05-10-2026, 14:20
Avenue Supermarts Shares Plunge 6 Percent Following Citi Sell Rating
- •Avenue Supermarts shares dropped up to 6 percent on the NSE after Citi retained its sell rating with a target price of Rs 3,300.
- •Market concerns regarding the slow pace of store additions contributed to the downward pressure on the stock.
- •The company added 18 new stores in the first half of FY27, showing a minimal increase from 17 stores in the same period last year.
- •Other brokerages like CLSA and Bernstein remain positive, maintaining outperform ratings with higher price targets.
- •Avenue Supermarts reported a standalone revenue of Rs 19,206 crore for Q2FY27, marking an 18.4 percent year-on-year growth.
Key Questions Answered
Avenue Supermarts shares dropped up to 6 percent after Citi maintained a 'sell' rating on the stock with a target price of Rs 3,300. The decline was also driven by ongoing market concerns regarding the muted pace of store additions.
Avenue Supermarts reported a standalone revenue of Rs 19,206 crore for Q2FY27, marking an 18.4 percent increase year-on-year. This revenue growth accelerated from 15.1 percent in the first quarter of FY27.
Avenue Supermarts added 18 stores during the first half of FY27. This compares with 17 store additions recorded in the corresponding period of the previous fiscal year.
