Shares of Avenue Supermarts, the operator of retail chain DMart, fell more than 3 per cent on 06 October after the company’s second-quarter FY2026 business update disappointed investors and prompted Goldman Sachs to trim its price target.
The stock touched an eight-week low of Rs 4,269 apiece before paring some losses to close at Rs 4,300 on the NSE.
In a post-market filing on October 3, Avenue Supermarts reported standalone revenue from operations of Rs 16,218.79 crore for the July–September quarter, up 15 per cent year-on-year from Rs 14,050.32 crore in the same period last year.
The retailer said it operated 432 stores as of September 30, though one outlet in Navi Mumbai remains closed for reconstruction.
Goldman Sachs maintained its ‘Sell’ rating on DMart and lowered its target price to Rs 3,370 from Rs 3,450, implying a potential downside of nearly 24 per cent from the stock’s previous close of Rs 4,418.4.
The brokerage cited weaker-than-expected sales growth despite a low base and cut its FY26 sales growth forecast to 18 per cent from 20 per cent earlier, while trimming earnings per share (EPS) estimates by 2 per cent. |
