Avenue Supermarts, a retail major owning and operating D-Mart, has reached a market capitalisation of Rs 1 lakh crore in Monday's opening hour.

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The company's stock hit Rs 1,620 per share in intraday trade on Monday, crossing its previous high of Rs 1,606 per share mark. The share, as of 10:36 AM, is trading at Rs 1,609 per share.

The stock has been seeing an uptick of around 19% since May 23, after RK Damani, promoter of the company, agreed to reduce his stake to comply with the shareholding norms.

Damani sold nearly a percent stake in the company last week to meet the public shareholding norms.

With effect from June 1, the retail major was recently included in the MSCI India Domestic and MSCI India Domestic Small Cap Index, with effect from 1 June.

D-mart, in its expansion plan, has added 24 stores in the last fiscal, lower than the expectation of adding 30 stores but the highest number it has added so far in its business.

First Published:Jun 11, 2018 11:13 AM IST