Shares of V-Mart Retail rose on June 14 after a large deal happened in the stock at a slight premium to the previous closing price.
As per data available with Bloomber, 5.8 lakh shares or about 3 percent of equity worth Rs 116 crore changed hands at Rs 1,990 apiece, against the closing price of Rs 1,980 in the previous session.
It was not immediately clear, who bought and sold these shares. The stock of the retailer jumped about 4 percent to Rs 2,063 on BSE as of 3 pm.
The consensus view on the stock is ‘buy’ and the average upside that analysts see is in the vicinity of 15 percent.
Analysts at HDFC Securities noted that the unit economics of the retailer remains weak but is improving with footfall density standing at 91 percent of pre-pandemic times.
The management remains cautiously optimistic about demand as it sees initial signs of recovery in certain markets, though it expects full recovery only in the H2FY24.
Those at Axis Securities said that even though there are near-term challenges, long-term growth levers are intact. They believe the recovery in rural demand, a shift from unorganised to organised sector and increased focus in South India will help the company tide through tough times.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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