DMart fell 9% due to Quick Commerce

Morgan Stanley said “We have been defending DMart’s business model for a while. However, we now believe the company’s slow response to steadfast market changes toward convenience is starting to hurt the business" It added, “We note DMart management didn’t view this (growth of quick commerce) as much of an issue a couple of months ago. We believe aggressive scaling strategies from quick commerce players are hurting brick and mortar businesses, implying further deterioration in operational metrics could be coming up."