Moneycontrol News
Following the blockbuster listing of supermarket retail chain D-Mart’s operator, Avenue Supermarts, shares of other retail majors fell on Tuesday.
While V-Mart Retail plunged 10 percent intraday, V2 Retail slipped 7.4 percent, Shoppers Stop dipped 2 percent, and Future Retail declined 3.4 percent.
Avenue Supermarts more than doubled on debut on hefty buying by investors. The stock listed at Rs 604.4 on the BSE, up 102 percent over issue price of Rs 299.
Investors earned huge returns on their money invested in the issue. One lot of 50 shares at issue price of Rs 299 cost Rs 14,950 for an investor. At listing price of Rs 610, the total value of investment jumped Rs 30,500.
Hence, investor having one lot earned solid returns of Rs 15,550 (excluding brokerage charge).
At 10:39 hrs, V-Mart Retail was quoting at Rs 763.35, down Rs 70.85, or 8.49 percent, on the BSE. It touched an intraday high of Rs 855.00 and an intraday low of Rs 742.50. Meanwhile, V2 Retail was quoting at Rs 190.00, down Rs 14.40, or 7.05 percent, on the BSE.
Simultaneously, Future Retail was quoting at Rs 252.00, down Rs 5.25, or 2.04 percent, on the BSE. It touched an intraday high of Rs 264.75 and an intraday low of Rs 248.40. Shoppers Stop, meanwhile, was quoting at Rs 328.00, down Rs 5.90, or 1.77 percent, on the BSE. It touched an intraday high of Rs 338.95 and an intraday low of Rs 328.00.
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