Shopper’s Stop 'show-stopper'!

Shopper’s Stop is currently the top gainer on the BSE. The stock, which had closed yesterday at Rs.280.55, opened today morning at Rs.296.90 and went on to hit a new high at Rs.335.85, just a tad away from its 20% UC of the day at Rs.336.65. Volumes have also jumped up over 5 times.

The market is pretty piqued with the company’s performance for Q2Fy22 which clearly indicates that buying has bounced back and will soon touch or surpass pre-pandemic levels as festive and wedding seasons peak.

The company’s consolidated total revenue for the quarter rose 117% (YoY) to Rs.709 crore and thanks to this leg-up, net loss narrowed down to Rs.3.68 crore v/s loss of Rs.98 crore.

Shoppers Stop MD & CEO Venu Nair said, "The demand postponement triggered by the second wave of the pandemic witnessed a strong comeback in Q2.  While July was muted with multiple lockdowns and Maharashtra completely closed, August and September witnessed a sharp recovery. Our sales more than doubled and EBITDA quadrupled against last year.”