V-Mart Retail hits new high; stock soars over 50% in one month
V-Mart Retail hit record high of Rs 718, up 7% on the BSE in intra-day trade, extending its previous day’s 7% surge after one of the promoter of the company sold part of his stake via open market.
On Wednesday, February 15, 2017, Hemant Agarwal, the promoter of V-Mart Retail had sold 1.5 million equity shares of the company at Rs 615 per share, the BSE bulk deal data shows.
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The name of the buyers not immediately ascertained.
In past one month, the stock has appreciated by 52% from Rs 472 on January 17, as compared to 3.5% rise in the S&P BSE Sensex. Since January 30, post October-December (Q3FY17) results, it surged 41% against 1% gain in the benchmark index.
V-Mart is a medium-sized hypermarket format retail chain based in New Delhi. The company primarily operates in Tier-II and Tier-III cities with a chain of value retail departmental stores offering apparels general merchandise and kirana catering to the entire family.
V-Mart has reported a strong 81% year on year (YoY) growth in its net profit at Rs 27.21 crore in Q3FY17. The company had profit of Rs 15 crore in the same quarter last fiscal and a net loss of Rs 1.83 crore in previous quarter.
The company’s revenue grew by 23.4% at Rs 327 crore on YoY basis. EBITDA (earnings before interest, tax, depreciation and amortization) expanded by 340 basis points to 14.8% in Q3FY17 from 11.4% in Q3FY16.
At 10:53 am; the stock was up 5% at Rs 705 against 0.1% rise in the Sensex. A combined 108,555 shares changed hands on the counter on the BSE and NSE so far.