DMart Shares Soar 3% to One-Month High Post Q3 Results, Defying Brokerage Caution

• DMart shares jumped 3% to hit a one-month high of Rs 3,918.6 after Q3FY26 results.
• Net profit rose 17% year-on-year to Rs 856 crore, with revenue up 13.3% to Rs 18,101 crore.
• EBITDA increased over 20%, and margins expanded to 8.1% due to lower discounting and favorable category mix.
• Brokerages like Citi, Jefferies, and Nuvama remain cautious, citing muted same-store growth and competition from quick-commerce.
• Motilal Oswal reiterated a 'Buy' rating with a target price of Rs 4,600, highlighting profitability beat and margin recovery.

Why It Matters: DMart shares surged after strong Q3 results, but brokerage views remain mixed due to growth concerns.