Avenue Supermarts becomes 11th most valued Indian firm by market cap

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Avenue Supermarts, which owns retail brand D-Mart, on Saturday said its promoter Radhakishan Damani has donated Rs 155 crore to the government.
Avenue Supermarts, D-Mart, Radhakishan Damani

New Delhi, May 20 (PTI) Avenue Supermarts, which owns and operates retail chain DMart, on Wednesday became the 11th most valued Indian firm by market valuation following a rally in its share price.

At close of trade, the company’s market capitalisation stood at Rs 1,58,902.37 crore on the BSE.

Shares of the company jumped 5 per cent to close at Rs 2,453.05 — its upper circuit limit — on the BSE.

The company is ahead of Nestle India, Maruti Suzuki India, Asian Paints and HCL Technologies, among others, in terms of market capitalisation.

So far this year, the company’s shares have climbed 33.44 per cent.

Reliance Industries Limited is the country’s most valued firm with a valuation of Rs 9,09,482.51 crore, followed by TCS at Rs 7,32,634.35 crore.

Avenue Supermarts had last week informed BSE that its board will meet on May 23 to consider and approve the financial statements for the quarter and financial year ended March 2020.

The Mumbai-based company has presence in over 200 locations through DMart stores.

Source: PTI

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