Avenue Supermarts (D-Mart) reported 18% standalone revenue growth in Q2, but brokerages are split: CLSA bullish while Citi maintains a sell rating with a target near 3,300 rupees

Mon 5 Oct 2026

Citi target price

3,300 rupees

Motilal Oswal target price

4,000 rupees

Standalone revenue growth Q2

18 percent

Standalone revenue growth Q1

15 percent

Long-term support zone

3,200 to 3,300 rupees

Heard on business television between 15:05:37 - 15:08:37 IST.

• Citi maintained a sell rating on D-Mart with a target of nearly 3,300 rupees per share while CLSA was reported as incredibly bullish on the counter.
• Siddharth Kemka of Motilal Oswal said standalone revenue growth recovered to 18% versus 15% in Q1, slightly ahead of his 16% estimate and in line with street expectations.
• He flagged same-store sales growth was missing, management tempered store addition targets after Q1, and growth is constrained by capacity limits and intensifying quick-commerce competition in metros.
• Kemka said D-Mart's focus on profitability is leading to slower capacity expansion, and with limited near-term catalysts he rates the stock neutral with a target price of around 4,000 rupees.
• A technical analyst noted 3,300 has been a long-term support zone since 2021, hit five-six times, making risk-reward favourable, but momentum and breakout confirmation are still missing.

The call above is Siddharth Kemka, Motilal Oswal Financial Services's, reported here as they made it. Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.