Shares of DMart retail chain operator Avenue Supermarts hit lower circuit of 5 percent on Monday after the company said that half of its stores were closed and were getting fewer customers due to the lockdown.

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The shares slumped 5 percent to Rs 2,287.90 on the BSE.

In an exchange filing, the company informed that nearly 50 percent of its stores remained closed for operations based on directive by the local authorities. Footfall at stores that are open, depend on movement and timing restrictions enforced by the local authorities. Overall, they were significantly lower than usual footfalls, it said.

The company continues to sell daily-use essential items such as grocery and FMCG products from all its stores and has stopped sale of non-essential items (General Merchandise and Apparel).

Further, the company also commenced e-commerce home delivery and bulk deliveries to large housing complexes across the majority of its stores during the first week of April.

However, e-commerce and bulk deliveries to societies are initiatives implemented to only manage the current lockdown situation, it added.

First Published:Apr 13, 2020 12:00 PM IST