New Delhi: In just two and a half years, this company’s stock gave a return of 290% and became the eighth largest company in the country. The market capitalization of Avenue Supermart, a company known as supermarket chain DeMart, reached Rs 1.50 lakh crore on Monday. It has beaten giants such as Nestle and Bajaj Finserv. The company was listed on the stock market on March 21, 2017 and had an M cap of Rs 39,988 crore at that time. Since then, its stock has registered a growth of 290%.
On February 5, the company had announced the sale of its shares to institutional investors, following which the stock jumped 8.6% to Rs 2,484.15 on Monday, its highest level ever.
The company’s stock has soared 35% so far this year. If an investor had bought a share of Rs 1 lakh crore during the IPO of the company in March 2017, its value would have been 8.31 lakh crore on Monday.
