Avenue Supermarts, which operates the DMart retail chain, saw its shares zoom 8% to hit a four-week high of ₹4324 apiece in Wednesday’s trading (July 30), marking the biggest intraday jump since mid-March.
The sharp rally came after the company told analysts during an investor call on July 30 that it would ramp up new store additions going forward. The management also addressed investor concerns about the potential impact of the rising quick-commerce space, stating that it is unlikely to affect the company’s financial performance.
The retailer recently opened a new store in Pathankot, taking its total store count to 426, following a prior addition in Agra, Uttar Pradesh (UP). UP, being a large and populous state, is seen as a key growth market along with Odisha, signaling more store additions in these regions.
Overall, the company has added 50 stores in FY25, surpassing the 41 stores added in FY24 and 40 in FY23. The FY25 store additions also exceeded analysts’ estimates of 40 new stores.
Meanwhile, amid rising competition from the quick-commerce segment, DMart has been increasing its focus on private-label products to protect margins.
While it has historically offered private labels in bulk grocery segments such as grains, pulses, and flours, the retailer is now actively expanding into branded categories like biscuits, candies, and home and personal care products (detergents, soaps, hair oils, etc.).
Damani’s wealth soars ₹4,819 crore
The rally in DMart’s share price has also boosted the wealth of Radhakishan Damani. According to Trendlyne shareholding data, Damani held 149,848,238 shares, or a 23.03% stake in the company, at the end of Q1FY26. With DMart shares jumping 8%, Damani’s wealth increased by ₹4,819 crore to reach ₹1.87 lakh crore.
Radhakishan Damani publicly holds 13 stocks with a combined net worth of over ₹1.94 lakh crore, as per Trendlyne. Additionally, the valuation of shares held by his spouse, Shrikantadevi Radhakishan Damani, rose by ₹211 crore today. At the end of the June quarter, she held 6,500,000 shares, representing a 1% stake in the company.
Overall, the promoter group owns a substantial 74.65% stake in DMart. Today’s rally in the stock also propelled the company’s market capitalization close to ₹3 lakh crore.
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