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Value retail stocks fall as investors fret about softer consumer demand
Avenue Supermarts shares dropped 6.7% despite reporting September-quarter revenue of ₹19,206.2 crore, up 18.4% year-on-year.
Value retail stocks slid sharply as investors appeared concerned that higher prices and softer demand could pressure the sector’s growth, with muted second-quarter expectations linked to restrained consumer spending and inflation, according to a Nuvama report cited by LiveMint Markets.
Among the decliners, Avenue Supermarts Ltd fell 6.67%, V2 Retail Ltd dropped 16.63%, and Vishal Mega Mart Ltd declined 1.26%, while Trent Ltd slipped 0.86% and V-Mart Retail Ltd rose 3.19%.
The article also noted Avenue Supermarts was down despite a strong September-quarter performance, including revenue of ₹19,206.18 crore, up 18.4% year-on-year and 4.7% quarter-on-quarter, and a rise in store count to 518.