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Avenue Supermarts that owns and operates the DMart supermarket chain has purchased a 1.2-acre plot in Mumbai’s Chandivali suburb for over Rs 117 crore, as the company continues to acquire properties as part of its growth strategy.This land currently houses a ground-plus-one industrial structure. The plot falls under the industrial zone and the company is looking to develop it as either a retail shopping centre or a commercial building.Apart from the existing floor space index (FSI) available on this plot, the company has purchased 0.5 additional FSI, or permission to develop 26,000 sq ft, from the civic authority.The billionaire Radhakishan Damani-promoted company has paid a stamp duty of Rs 7.03 crore for the transaction that was registered on May 6, according to documents accessed through real estate data analysis platform CRE Matrix.Avenue Supermarts and Damani did not respond to emails seeking comment till the time of going to press.The company’s management had last year told analysts that it was planning to maintain its target of opening 40 outlets in a financial year, as store expansion has been a key focus area for the retailer.Last week, the company opened a new store at Abrama in Gujarat’s Valsad, taking its total number of supermarket outlets to 367.Avenue Supermarts usually picks up real estate assets needed for its retail business expansion on an outright basis, unlike other retail chains that base their expansion strategy on a standard leasing model.At the end of 2023-24, the company had a total retail business area of 15.1 million sq ft, with the addition of 41 stores spread over 1.8 million sq ft during the fiscal year. Its revenue from retail business area was Rs 32,941 per sq ft.For the financial year 2023-24, the company reported a net profit of Rs 2,536 crore, compared with Rs 2,378 crore the previous year. Revenue rose to Rs 50,789 crore from Rs 42,840 crore.Avenue Supermarts opened its first store in 2002 in the Powai suburb of Mumbai. It currently operates stores in Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, the National Capital Region, Tamil Nadu, Punjab and Rajasthan.The Mumbai-headquartered company owns brands like DMart, DMart Minimax, DMart Premia, DHomes and Dutch Harbour.

Nifty on Friday ended 98 points higher to form an Inside Bar candlestick pattern on the daily chart. If the headline index manages to hold Thursday's low of 21,932, a pullback looks possible to chartists.Last month, the index found support around 21,780 levels, and the 100-Days exponential moving average (DEMA) is placed near 21,820. Therefore, on the downside, 21,780-21,820 will act as the next key support for the index. On the upside, the 21-DEMA is positioned near 22,335, which will serve as a major hurdle, said Neeraj Sharma of Asit C. Mehta Investment Interrmediates.What should traders do? Here’s what analysts said:Rupak De, Senior Technical Analyst, LKP SecuritiesOn the daily chart, the index has broken down from the rising channel, indicating a rise in bearish sentiment. The trend is likely to remain weak in the near term, with resistance noted at 22,200. As long as the Nifty remains below this level, a strategy of selling on rallies may be favourable for traders. Support at the lower end is situated at 21,950 on a sustained basis. A decisive drop below this level could trigger panic in the market.Tejas Shah, Technical Research, JM Financial & BlinkXWe need to wait and watch till the high (22,131) or low (21,950) of Friday’s daily candle is taken out for further direction on Nifty in Friday’s trading session. Support for the index is now seen at 21,950-22,000 and 21,700-800 levels. On the higher side, the immediate resistance zone for Nifty is at 22,200-250 levels and the next resistance is at 22,500 Mark. Overall, the trend remains negative.Jatin Gedia, SharekhanOn the hourly charts, we can observe that Nifty has found support at the lower end of the rising channel. 21,900 – 21,950 has been defended. A follow-through buying is required to strengthen this support level. A pullback towards 22,140 – 22,250 is expected as the hourly momentum indicator has triggered a fresh positive crossover, which is a buy signal. The lower end of the channel, if breached, can lead to a sharp decline towards 21,270. So Nifty is at a crucial juncture.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Having reported record high revenue, profits and free cash flows, Tata Motors now expects to become net automotive debt free on a consolidated basis in FY25, it said in a stock exchange filing.The company is 'cautiously optimistic' on domestic demand over the full year, but expects the first half of the financial year to be relatively weaker.Tata Motors' India business is debt free."The premium luxury segment demand is likely to remain resilient despite emerging concerns on overall demand. Despite this, we are confident of delivering a strong performance in FY25," Tata Motors said.Tata Motors outlook for JLRTata Motors expects EBIT margins in FY25 to be around FY24 level. It expects a modest increase in investment expenditure to £3.5 billion but still expect to become net debt zero during FY25. "We have delivered a record financial performance for the company, generating free cashflow of £2.3 billion, enabling us to reduce net debt to £0.7 billion. The foundation of this performance was the sustained global demand for our modern luxury vehicles, led by our Range Rover and Defender brands, underpinned by a consistent focus on operational improvement," said Adrian Mardell, JLR Chief Executive Officer.Tata Motors outlook for CV businessA promising GDP outlook, government's incentives and a continuing focus on infrastructure is likely to help improve the demand for commercial vehicles from H2FY25. It remains 'cautiously optimistic' for domestic demand while keeping a close watch on geopolitical developments, interest rates, fuel prices and inflation, Tata Motors said.India's CV industry's volumes grew 2 per cent during FY24, impacted by a high base effect of FY23, elections held across 5 states and the announcement of general elections. "Our sharp focus on profitable growth resulted in the CV business recording its highest-ever revenues of Rs 78,800 crore and profits of Rs 6,100 crore in FY24. Going forward, we will intensify our efforts to grow market share, profitably and consistently, in every business segment by delivering more value to customers with innovative products, smarter services and holistic mobility solutions," said Girish Wagh, Executive Director, Tata Motor.Tata Motors outlook for PV businessTata Motors expects demands for passenger cars to remain strong. However, factors like high base effect in addition to elections, heatwave and others may keep the growth rate moderate, said Tata Motors.The company aims to focus on retails and deliver 'market-beating' growth to sustain its double-digit EBITDA margin and positive free cash flows for this business.