Avenue Supermarts stock was trading at Rs 1655.45 on Tuesday, rising by 3.94 percent, gaining Rs 62.80 in value as the Street gave thumbs up to the firm’s results for June quarter.

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The stock touched an intra-day high of Rs 1,663.80 and an intra-day low of Rs 1,622.00.

The company, which operates supermarket chain DMart, on Monday posted a nearly 43 percent surge in June-quarter profit.

Motilal Oswal Securities, a top brokerage firm, said the company’s strong momentum is likely to continue going forward with a robust revenue and the EBITDA compound annual growth rate between 25 and 29 percent for the financial years between 2018 and 2021.

DMart continues to execute plans on store expansion as well as growth from the existing stores while sustaining margins, Kotak Securities said.

More than 8,50,811 shares changed hands, 1.9 times their 30-day moving average of 4,49,243 shares.

Of the 14 brokerages covering the stock, four have recommended a “buy” and above, two have recommended a “hold” and eight recommended a “sell” or lower.

The Avenue Supermarts stock’s median price target is Rs 1,330, according to Thomson Reuters Eikon data.

The stock is up 35 percent this year, as of the last close.

(Inputs from Reuters)