The shares of Avenue Supermarts, the parent company of supermarket chain DMart, rallied more than 8% on Wednesday after the firm announced that its store count now stands at 500 following 12 new additions on Tuesday.

In an exchange filing, DMart said it opened new stores at three locations in Maharashtra (two in Pune and one in Nagpur), two in Tamil Nadu (both in Chennai), two in Uttar Pradesh (one in Lucknow and one in Greater Noida), one in Haryana's Faridabad, two in Gujarat (one in Gandhinagar and one in Ahmedabad), and one each in Odisha and Chhattisgarh on Tuesday. This took its total store count to 500.