Competition worries post Future deal weigh on Avenue Supermarts stock

The Avenue Supermarts stock has shed 3 per cent on worries that the acquisition of Future Group’s retail and backend assets, by Reliance Retail, will weigh on prospects. The impact could be significant in the Mumbai market. While Avenue has 216 stores across the country, 36 per cent or 76 of them are in Maharashtra. Of these, 32 are in the Mumbai region alone. The merged entity, which will combine the network of Reliance Smart and Big Bazaar, will take Reliance Retail’s total store count to 39. In addition to large-format stores, Avenue also has 220 DMart Ready stores i.....

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