Shares of Radhakishan Damani’s DMart have hit a 6-month low. Bottom-finishing time?

According to stock market experts, Dmart Q3FY23 results came in below market expectations and hence selling started soon after the market opened today. He added that DMart shares have been placed on immediate support 3,500 while from 3,250 The 3,300 level would be a good accumulation zone for bottom finishers. He said that after the sell-off, there could be a strong jump in the stock and it could fall to the top. 4,000 each level in the near term. He advised DMart shareholders to keep accumulating after every major decline as long as the stock is trading up. 3,200 each level.

Speaking on the reason for the recession in Avenue Supermarts Share Price: Radhakishan Damani’s Avenue Supermarts share price has been under pressure as its Q3 results came in below market expectations, especially on the margin front, said Ravi Singhal, CEO, GCL Securities. Monday morning deals. However, high risk averse traders can buy 3600 for near term target 3,800 each level maintain stop loss 3,500 level.”

However, Manoj Dalmia, founder and director of Proficient Equities, said long-term investors can hold the stock and continue accumulating as long as the stock is trading above. 3,200 each level. He advised Dmart shareholders to keep adding shares as the stock can double their money in the long term and become a hit 6,000 level each in 18 to 24 months’ time.”

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For fresh purchases, Manoj Dalmiya said, ‘Those who want to play safe are advised to buy shares of Dmart’ from 3,250 3,300 range for two-year target 6,000 level. However, stop loss should be maintained 3,200 while taking fresh positions in the scrip.

DMart Q3 Result 2023

In Q3FY23 results, Avenue Supermarts reports 6.70 per cent jump in consolidated profit after tax (PAT) 589.68 crore against 552.56 crore in the same period. Radhakishan Damani-owned Avenue Supermarts, which runs the DMart chain, reported 25 per cent growth in revenue from operations 11,569.05 in Q3FY23 against 9,217.76 in the corresponding quarter in the previous financial year.

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before taking any Investment Decision.