D-Mart hits a new high

Avenue Supermarkets or D-Mart as is popularly known hit a new 52-week high today on the BSE at Rs.1292.90.

The stock price has soared after foreign brokerage houses gave a huge thumbs up to the stock.

Goldman Sachs put out a report, hiking the target price from Rs.1611 to Rs.1672, with a “buy” rating. In its report, Goldman stated that with the company expected to open some  30 stores in 2021 and 24 in 2019, it is expected to show some good growth in the coming years.

In fact, two more brokerage houses have rated the stock “buy” and their price target is Rs.1003.

Well, the stock price has more than doubled since its IPO in March 2017.