Avenue Supermart shares rise 2.32% as Nifty gains

Shares of Avenue Supermarts Ltd. traded 2.32 per cent up at Rs 3514.0 on Tuesday at around 10:00AM (IST), while the benchmark BSE Sensex advanced 198.44 points to 61140.11.

As many as 16,600 shares changed hands on the counter with a total value of Rs 5.8 crore.

The stock quoted a 52-week high price of Rs 4606.0 and a 52-week low of Rs 3185.1.

On the technical charts, the 200-DMA of the stock stood at Rs 4014.64, while 50-DMA was at Rs 3948.13. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up. On the other hand, if the stock trades below 50 DMA and 200 DMA both, it is considered a bearish trend and if it trades between 50DMA and 200DMA, then it suggests the stock can go anywhere.

Shares of the company have advanced 12.92 per cent in the past one year, while Sensex has risen 3.57 per cent during the same period.

According to BSE data, the stock trades at a price-to-earnings multiple of 96.85 and a price-to-book ratio of 18.94. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price to book value indicates the inherent value of a company and reflects the price that investors are ready to pay even for no growth in a business. The stock belongs to the Supermarkets industry.