Avenue Supermarts Ltd

Not a BAAP story (please allow us to repeat an acronym which we coined in July 2020)

Equity Bottom-Up
191 Views, 10 Jan 2022 17:02
EXECUTIVE SUMMARY

Consensus (continues to) believe that DMart is a linear and secular growth story. We disagree. This analyst's >20 years Consumer experience suggests that in India, nuances matter more. We disagree with consensus' over-enthusiasm of BAAP. SELL. Watch-out for DMart (and modern retail) potentially getting disrupted like how India skipped wireline penetration and jumped directly to wireless.

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ICICI Securities Limited
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ICICI Securities Ltd
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ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities... 

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