Not a Buy? Jefferies reveals why it’s sticking to ‘Hold’ on DMart despite 18% profit in Q3
DMart, owned by Avenue Supermarts and backed by Radhakishan Damani, has become a top value retail business in India with a simple and price-focused approach. Despite a 18% increase in Q3 profit, Jefferies maintains a 'Hold' rating with limited upside potential. While DMart's fundamentals are solid, growth has slowed down, with new stores driving revenue growth.