Avenue Supermarts, which runs the retail chain DMart, on Monday crossed Rs 1 lakh crore in market capitalisation in intra-day trade. The stock, which listed on the exchanges less than 15 months ago, hit a record high of Rs 1,619.95, which took its market value to Rs 1.01 lakh crore. It ended the session at Rs 1,593.80, with a market capitalisation of Rs 99,466.59 crore. With this, the company\u2019s promoter Radhakishan Damani becomes the ninth richest Indian and Avenue Supermarts becomes the 29th largest firm in terms of market value. It is the only retail chain among the top 30 companies. At present, Damani has a net worth of $9.2 billion, according to the Bloomberg Billionaire Index. As of March 2018, Damani personally held a 39.41% stake in Avenue Supermarts, according to data sourced from Captaline. Banks and non-banking financial companies constitute eight of the top 30 companies by market value, followed by IT and auto companies. Together these three sectors form half of the top 30 most valued companies. Avenue Supermarts was listed on March 21, 2017, at Rs 604.40, a whopping 102% above its issue price. The Avenue Supermarts initial public offering was subscribed 104 times with investors bidding for 463.32 crore shares of the 4.43 crore shares on offer. Since its debut, the stock has risen 433 % above its issue price. Last month, Damani sold nearly 62.40 lakh shares, constituting 1% of the paid-up share capital of the company, to meet the minimum public shareholding norms. For the year ended March 2018, the company posted a net profit of Rs 806.25 crore, up 70 % from the previous year. Avenue Supermarts has the highest sales per square feet among retailers. Moreover, with costs in check, margins have been expanding over the last few years. With stores in prosperous states such as Gujarat and Maharashtra, the scope for growth is high, say analysts. However, some analysts have expressed concerns about the high valuations.