Hold V-Mart Retail; target of Rs 2530: CD Equisearch

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CD Equisearch's research report on V-Mart Retail

V-Mart clocked in overall revenues of Rs. 587.88 crs in Q1FY23, witnessing a year-over-year growth of over 231% on a favourable base, though this recovery remained sluggish as excluding the contribution from Unlimited stores, V-Mart’s revenues of around Rs. 470 crs grew by nearly 165% over Q1FY22 and some 4% over pre-covid levels (Q1FY20).

Outlook

Weakening return on capital reveals a grave concern. Balancing odds, we assign a ‘hold’ rating on the stock with a target price of Rs 2530 (previous target Rs 3000).

More Info

At 16:01 hrs V-Mart Retail was quoting at Rs 2,790.50, down Rs 5.35, or 0.19 percent.

It has touched an intraday high of Rs 2,810.15 and an intraday low of Rs 2,774.35.

It was trading with volumes of 1,047 shares, compared to its thirty day average of 74,909 shares, a decrease of -98.60 percent.

In the previous trading session, the share closed down 0.69 percent or Rs 19.55 at Rs 2,795.85.

The share touched its 52-week high Rs 4,620.00 and 52-week low Rs 2,406.00 on 19 October, 2021 and 27 June, 2022, respectively.

Currently, it is trading 39.6 percent below its 52-week high and 15.98 percent above its 52-week low.

Market capitalisation stands at Rs 5,516.37 crore.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

V-Mart Retail - 121022 - cd