Shares of DMart (Avenue Supermarts Limited, NSE: DMART) surged 8.54% to close at ₹4,294.80 on Wednesday, driven by the retailer's rapid store expansion.
12 New Stores Open on March 31
DMart inaugurated 12 new stores across major cities including Pune, Chennai, and Lucknow on March 31, pushing its total store count to 500. In the last three days of March alone, the company opened 22 new outlets, underscoring its aggressive growth trajectory.
Stock Performance
The stock has gained 9.07% over the past five trading days and 12.06% over the past month. The market responded positively to the expansion news, reflecting investor confidence in DMart's growth story.
Strong Financial Backing
The expansion is supported by robust financials: DMart reported an 18.27% year-on-year increase in Q3 net profit to ₹855.78 crore, and a 13.32% rise in revenue to ₹18,100.88 crore. As a leader in India's value retail sector, DMart continues to leverage its low-cost model and wide product range to attract budget-conscious consumers.
Industry experts view the 500-store milestone as a testament to DMart's successful transition from a small discount chain to a national retail powerhouse, with further expansion into tier-2 and tier-3 cities expected.