Weak same-store sales growth (SSSG), falling sales per square foot, shrinking profitability and investor aversion towards mid-cap stocks triggered a 34% drop in the stock price of V-Mart. The confluence of factors pushed the stock to a 52-week low of Rs. 1,698 in late August. The fashion store chain with a strong presence in Tier-II and Tier-III cities has been another victim of the slowdown in consumption.
As the stock bounces back from a 52-week low, V-Mart’s promoter sells stake worth ₹117 million
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