Avenue Supermarts Ltd, the parent company of DMart, has announced the opening of its store in Agra, following which its shares rose 3.5% on June 18.

"This is to inform you that the Company has opened a new store at Ratan Mall, Agra (Uttar Pradesh) today. The total number of stores as on date stands at 421," said the firm in a stock exchange filing.

At 1:41 pm on June 18, DMart shares were trading 3.5% higher at Rs 4,201 apiece. The 52-week low of the stock is Rs 3,340 and 52-week high is Rs 5,484. The market capitalisation of the stock is Rs 2.7 lakh crore.

On June 18, the stock saw its trading volumes rise by over 100% to 4.93 lakh as against 2.32 lakh on June 17.

However, Morgan Stanley isn't enthused by DMart's Uttar Pradesh expansion and gave an underweight call with target price of Rs 3,260.

"First major store in UP after Ghaziabad, in India’s most populous state. Opening of store in Agra seen as positive and will track expansion pace in UP given large opportunity," said the brokerage.

The firm reported a 2.2% fall in standalone net profit at Rs 551 crore for the fourth quarter ended March 2025. Promoted by Radhakishan Damani and his family, DMart retails basic home and personal products across markets, including Maharashtra, Gujarat, Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Madhya Pradesh, Rajasthan, Punjab, NCR, Chhattisgarh and Daman.