Shopper’s Stop Climbs To 52-Week High

Shares of Shopper’s Stop Ltd. climbed 11.5% to a 52-week high Rs 603.7 apiece. Trading volume is 63 times the 30-day average. The relative strength index on the stock is 73, suggesting it may be overbought.

The sharp uptick comes after the company posted net profit of Rs 22.83 crore in the quarter-ended June, post market hours on Tuesday. Shopper’s Stop had reported net loss of Rs 118 crore (YoY) in Q1FY2021-22 and Rs 15.85 crore (QoQ) in Q4FY2021-22. EBITDA almost doubled to Rs 162.50 crore while revenue rose 33%.

Q1 FY23 (Consolidated, QoQ)

  • Revenue up 33% at Rs 948.44 crore
  • EBITDA up 2x at Rs 162.50 crore
  • EBITDA margin at 17% vs 11%
  • Net profit at Rs 22.83 crore vs net loss of Rs 15.85 crore

The company said that the customer footfall is back to pre-Covid levels and expected further demand recovery as the economic activity normalises. Shopper’s Stop is expanding its retail segment and shifting focus on omni channel retail experience to cater to the users. Both customer visits (34.2 million) and average transaction value (Rs 4,344) were way ahead of corresponding quarters in the last three years.

Of the 11 analysts tracking the company, six maintain ‘buy’, four suggest ‘hold’ and one recommends ‘sell’. The return potential of the stock is -16.1%.

Source: Bloomberg

Yes Bank Board To Meet & Evaluate Proposal For Fund Raising On July 29

The board will evaluate the proposal for raising of funds by way of rights issue, preferential allotment, qualified institutions placement, or any other route.

  • Funds to be raised through issuance of equity shares, convertibles, or any other eligible securities.
  • Alert: Yes Bank is looking to raise $1 billion from a clutch of investors, after it completes the sale of its Rs 48,000 crore stressed assets, CEO Prashant Kumar had told BQ Prime last week.
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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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