Radhakrishna Damani’s DMart in spotlight: Jefferies upgrades, Nuvama cuts target

DMart is in focus as Nuvama Institutional Equities cuts its 12-month price target while Jefferies upgrades ratings. Despite impressive revenue growth and store expansion, margin pressure persists due to competitive trends and capacity investments. While Nuvama maintains a ‘Hold’ rating, Jefferies raises the target price by 3% and expects the company’s cluster-based expansion to accelerate.