The shares of V-Mart Retail rose 2 percent in early trade on June 15, a day after foreign portfolio investor Amansa Holdings purchased an additional 1.7 percent stake in the apparel brand.

Amansa Holdings is the investment firm of celebrated fund manager Akash Prakash.

On June 14, Amansa Holdings bought 3.37 lakh equity shares or 1.7 percent stake through open market transactions. These shares were purchased at an average price of Rs.1,990 apiece. Amansa now holds 8.53 percent of V-mart.

At 10:28 am, V-Mart was quoting at Rs.2,150 per share, up 2.3 percent on the National Stock Exchange (NSE).

However, T Rowe Price International Discovery Fund, another foreign portfolio investor, sold 3.77 lakh shares in the company at an average price of Rs.1,990.43 per share. T rowe earlier held a 2.07 percent stake or 4.08 lakh shares in the apparel company, according to company data published on the Bombay Stock Exchange (BSE).

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Analysts at HDFC Securities noted that the unit economics of the retailer remains weak but is improving with footfall density standing at 91 percent of pre-pandemic times.

Axis Securities have said that it expects V-Mart to meet long-term growth targets even as neat-term challenges persist.  A shift from an unorganised to an organised sector, a rising rural demand, and an increased focus in South India will help the company, analysts said.

The company’s net loss widened to Rs.37 crore in the quarter ended March 2023 from Rs.2 crore in the same period last year.  Its revenue from operations jumped 30 percent to Rs.593 crore.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

The shares of V-Mart Retail rose 2 percent in early trade on June 15, a day after foreign portfolio investor Amansa Holdings purchased an additional 1.7 percent stake in the apparel brand.

Amansa Holdings is the investment firm of celebrated fund manager Akash Prakash.

On June 14, Amansa Holdings bought 3.37 lakh equity shares or 1.7 percent stake through open market transactions. These shares were purchased at an average price of Rs.1,990 apiece. Amansa now holds 8.53 percent of V-mart.

At 10:28 am, V-Mart was quoting at Rs.2,150 per share, up 2.3 percent on the National Stock Exchange (NSE).

However, T Rowe Price International Discovery Fund, another foreign portfolio investor, sold 3.77 lakh shares in the company at an average price of Rs.1,990.43 per share. T rowe earlier held a 2.07 percent stake or 4.08 lakh shares in the apparel company, according to company data published on the Bombay Stock Exchange (BSE).

Follow our live blog for all the market action

Analysts at HDFC Securities noted that the unit economics of the retailer remains weak but is improving with footfall density standing at 91 percent of pre-pandemic times.

Axis Securities have said that it expects V-Mart to meet long-term growth targets even as neat-term challenges persist.  A shift from an unorganised to an organised sector, a rising rural demand, and an increased focus in South India will help the company, analysts said.

The company’s net loss widened to Rs.37 crore in the quarter ended March 2023 from Rs.2 crore in the same period last year.  Its revenue from operations jumped 30 percent to Rs.593 crore.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.