VMart has opened its 124th store. Growth in number of stores has been slower than expected with only 16 stores in last 12 months, though last 6 months has seen the company take store count from 109 to 124, i.e, 15 stores, which is a healthy growth rate.
With e-commerce growth slowing down, the perception of threat from online retail should also come down which could help the stock with PE expansion.
FII shareholding has gone up after the cap was increased with new investors including Fidelity who own close to 5%, and Wasatch close 1.75%. Westbridge continues to own ~20% stake.
Disclosure : Invested from 275 levels. Havent traded stock in the last 6 months