Avenue Supermarts shares dip 1.2% as Q2 profit rises modestly, margins under pressure despite growth.

• BofA downgrades to underperform, citing soft like‑for‑like sales and rising investment costs that affect profits.
• HSBC maintains a reduced rating, warning about moderating same‑store sales and elevated operational expenses in 2024.
• Jefferies holds stock, raises target to 4,400 rupees, expecting range‑bound trading until margins improve significantly.