New Delhi, July 30 -- Avenue Supermarts, which operates the DMart retail chain, saw its shares zoom 8% to hit a four-week high of Rs.4324 apiece in Wednesday's trading (July 30), marking the biggest intraday jump since mid-March.

The sharp rally came after the company told analysts during an investor call on July 30 that it would ramp up new store additions going forward. The management also addressed investor concerns about the potential impact of the rising quick-commerce space, stating that it is unlikely to affect the company's financial performance.

The retailer recently opened a new store in Pathankot, taking its total store count to 426, following a prior addition in Agra, Uttar Pradesh (UP). UP, being a large and populous state,...