DMart Shares Surge 8% After Supermarket Chain Hits 500 Brick-And-Mortar Store Mark - Republic World

DMart Share Price: The supermarket and hypermarket chain operator DMart's share price on Wednesday, April 1 surged as much as 8% to hit an intra-day high of Rs 4,293 apiece after it bolstered its on-ground presence.

As part of their expansion strategy, the Radhakrishnan Damani founded supermarket chain has introduced 12 new stores across key Indian stores.

According to an exchange filing, the Mumbai-headquartered supermarket chain has opened stores in locations such as Pune, Chennai, Bilaspur, and Lucknow. With this move, the company has touched 500 store mark.

Meanwhile, DMart's annual store acceleration has also increased with the company  eyeing 85 stores as compared to 50 in FY25, and 41 stores in FY24, and 40 in FY23.

Meanwhile, the CLSA maintained a ‘high conviction outperform’ rating, on the supermarket major with a target price (TP) of Rs 61,85, while noting that the company has surpassed expectations of 60 store additions.

As of 12:36 PM, the DMart stock price surged as much as 8.05% to hit Rs 4280.15 per share.