| Company | Value | Change | %Change |
|---|
Vishal Mega Mart operates supermarket chains across 30 states and Union Territories of India.
One of Vishal Mega mart’s biggest retail competition, Avenue Supermarts, the parent of hypermarket chain D-Mart, reported its December quarter business update, where its standalone revenue grew by 17% from last year to cross ₹15,000 crore. The stock, in response, has surged 15% on Friday. You can read more on that here.
Additionally, V2 Retail, which operates 150 shares across 112 Indian cities in 17 states, also reported a strong business update for the September quarter.
V2 Retail’s revenue increased by 58% on a year-on-year basis, while its Same Store Sales Growth (SSG) increased by nearly 25% from the year-ago quarter. Avenue Supermarts does not share Same Store Sales Growth figures for DMart.
V2 retail also opened 45 new stores during the first nine months of the current financial year. Its sales per square feet increased to ₹1,219 per month from ₹1,085 in the same quarter last year.
Shares of V2 Retail are locked in an upper circuit of 5% on Friday, in response to the numbers.
Another peer company, V-Mart Retail, reported a 16% revenue growth during the December quarter, while its Same Store Sales Growth stood at 10% from last year.
Vishal Mega Mart listed on the bourses three weeks ago, at a 33% premium to its IPO price of ₹78 per share. Friday’s intraday high of ₹115.4 is the highest level that the stock has hit post listing.
Shares of Vishal Mega Mart are currently trading 6% higher on Friday at ₹113.8.
