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    Avenue Supermart shares drop 1.23% as Sensex falls

    Synopsis

    On the technical charts, the RSI of the stock stood at 33.39.

    A broker reacts while trading at his computer terminal at a stock brokerage firm in MumbaiReuters
    Nifty continues to climb a wall of worry as it looks to be in the final leg of its rally before heading for a correction.
    Shares of Avenue Supermarts Ltd. traded 1.23 per cent down at Rs 3519.75 at 01:11PM (IST) on Monday, even as BSE benchmark Sensex dropped 384.7 points to 58946.2.

    The stock had settled at Rs 3563.5 in the previous session. The stock quoted a 52-week high price of Rs 4606.0 and 52-week low of Rs 3185.1, respectively. As per BSE data, total traded volume on the counter till 01:11PM (IST) stood at 21266 shares with a turnover of Rs 7.49 crore.

    At the prevailing price, shares of the company traded at 97.17 times its trailing 12-month EPS of Rs 36.2 per share and 18.94 times its price-to-book value, exchange data showed.

    A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.

    Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.0.

    Shareholding Details

    Promoters held 74.99 per cent stake in the company as of 31-Dec-2022, while FIIs owned 8.59 per cent and DIIs 6.33 per cent.

    Technicals
    On the technical charts, the relative strength index (RSI) of the stock stood at 33.39. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a'buy' or'sell' recommendation using a single valuation ratio.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

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