Monday, 21 August 2017

Best Stock Tips By MoneyMaker Research - V-Mart Retail gallops 19%

The stock of V-Mart Retail Ltd took a high pitch by 19% to Rs 1,459 on BSE in intra-day trade today. The huge leap was after the V-Mart reported a double net profit of Rs 22.00 crore in June Q1FY18, on account of robust operational performance. The company had profit of Rs 9.37 crore in year ago quarter. V-Mart Retail had announced a net profit of Rs 39.52 crore during the entire previous fiscal 2016-17. 

The shares of V-Mart Retail were trading at Rs 1429.50 per share, up by Rs 208.90 as on post morning hours on Monday, on the BSE. The stock was traded at its new 52-week high of Rs 1,458.80 witnessing a surge in volume by over 8.62 times. The stock caught a traded volume of 2,40,281 shares and the traded value of Rs 3,383.25 lakh on the NSE.

The company’s Retail standalone revenue for the quarter came in at Rs 315.12 crore, registering 38.8% year on year increase. The profit after tax for the quarter registered in at Rs 22.35 crore. The company is engaged in value retailing through the chain of stores located at different places in India, offering products across diverse verticals, viz. Apparel, General Merchandise and kirana bazaar.

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