Avenue Supermarts’ Revenue Rises But Same-Store Sales Fall In Q1 FY23

Avenue Supermarts Ltd.’s revenue rose but same-store sales declined for the quarter ended June 30. Standalone revenue for the operator of DMart retail chain almost doubled over the year earlier to Rs 9,806.89 crore in April-June, according to the company’s quarterly business update released on the stock exchanges. Both Q1 FY22 and Q1 FY21 were … Read more

Reliance Industries To See Limited Impact Of Export Duty Hike, Morgan Stanley To JPMorgan Say

India’s decision to increase export duty on petroleum products will have a limited impact on Reliance Industries Ltd. even as the move implies a downside risk for the sector multiples, according to analysts. Oil India Ltd. and Oil and Natural Gas Corp. are likely to take a hit on earnings for fiscal 2023, according to … Read more

M&M Hits A Record As Analysts See New Scorpio Aiding Market Share, Rerating

Shares of Mahindra & Mahindra Ltd. jumped to a record high as analysts reiterated their ‘buy’ calls on the automaker after the launch of a new sport utility vehicle. The company launched Scorpio-N starting at Rs 11.99 lakh, according to an exchange filing on Monday evening after market hours. The vehicle is available in five … Read more