New Delhi, April 13 -- Avenue Supermarts share price declined over 2% on Monday after Emkay Global initiated its coverage on the stock with a bearish view. Avenue Supermarts shares dropped as much as 2.69% to Rs.4,281.65 apiece on the BSE.

The fall in Avenue Supermarts share price also comes amid a broader Indian stock market crash. The benchmark indices, Sensex and Nifty 50 traded over 1.5% lower each on weak global market cues.

after brokerage firm Emkay Global Financial Services initiated coverage on the stock with a 'Sell' rating. The brokerage firm has Avenue Supermarts share price target of Rs.3,700 apiece, implying a downside potential of nearly 16% from Friday's closing price.

Avenue Supermarts, the parent company of D-Mart ret...