Meanwhile, Morgan Stanley double-downgraded the stock to Underweight from Overweight. Also, it slashed the target price on the stock significantly from Rs 5,769 to Rs 3,702. The brokerage said that the company's Q2 results missed our top-line and margins expectations.

JPMorgan wrote in its note that the company's second-quarter performance fell short of expectations, with revenue growth slowing due to weaker like-for-like (LFL) sales.

Shares of Avenue Supermarts Ltd. traded 0.31 per cent up at Rs 4197.6 at 11:46AM (IST) on Tuesday, even as BSE benchmark Sensex dropped 245.58 points to 81727.47. The scrip had closed at Rs 4184.45 in the previous session.

Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, plunged more than 8 per cent on Monday after its September quarter earnings failed to cheer investors. The stock of the company declined 8.

D-Mart posted a tepid growth in Q2 FY25, owing to lower productivity of stores as well as fast ramp-up of quick commerce services in large metro cities.

DMart owner Avenue Supermarts faces 8.48% stock slump post weaker results, analysts cautious, target prices revised downward.