DMart Parent Shares Soar: CLSA Predicts 60% Upside on Store Expansion

• Avenue Supermarts Ltd. (DMart parent) shares recovered as CLSA noted store additions surpassed expectations.
• CLSA maintains 'high conviction outperform' rating with a price target of ₹6,185, implying 58.5% upside.
• DMart opened 9 new stores in three days, bringing total to 481; 66 new stores this fiscal year, exceeding initial 60-store target.
• Q4 saw 39 new store openings, up from 28 last year, with two days remaining in the quarter.
• Q3 earnings were strong: net profit up 17% to ₹856 crore, revenue up 13.3% to ₹18,101 crore, and EBITDA up 20.2%.