5 brokers advised to sell shares stating higher valuation.
Top Business News Today- D-Mart sales were up by 23 percent to Rs 6190 crore in the March 2020 quarter.
⇛Five brokers' houses suggested selling the shares of retail chain D-Mart operator company Venue Super Mart at a higher valuation. These broker houses include Prabhudas Liladhar, IDBI Capital, HDFC Security, and Motilal Oswal. However, some brokers have advised to hold such. On Thursday, the stock rose 5 percent on the BSE to close at Rs 2310.
⇛This is the first time since the listing of the company in 2017, when the company has not come up with an estimate. The company has suffered a tremendous blow due to a ban on the sale of non-essential items.
⇛Analysts may see a 20 percent drop in the company's earnings. IDBI Capital said that higher discounts and lock-downs in March have impacted operating margins. The company raised Rs 4,000 crore through QIP in the March quarter. This has made its balance sheet strong.
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