Trent Share Price Records Steep Fall Despite 47% Rise In Q2 Net Profit, Buy Or Sell?

Trent Limited today announced its financial results for the quarter ended September 30, 2024 (standalone and consolidated). Trent Ltd shares witnessed sharp fall of 5.55% to Rs 6556.25 per share on Bombay Stock Exchange (BSE) despite posting a surge of 47% in its consolidated net profit to Rs 335 crore for the September 2024. The company declared its net profit at Rs 228 crore in the corresponding quarter of last year. It declared its consolidated revenue from operations at Rs 4157 crore, up 39% for Q2FY25 as compared to Rs 2982 crore in Q2FY2024.

Noel N Tata, Chairman, Trent Limited said, "Consumer sentiment has remained relatively muted. This coupled with seasonality has meant that retail businesses have faced headwinds. In the forgoing context the team has delivered strong results across brands, concepts, categories and channels in Q2. The market opportunity associated with building brands and a pure play direct-to-customer business like ours remains immense. We continue to pursue our expansion programme and deepen our store presence with the aim of being ever closer and convenient to customers. Also, we seek to explore additional avenues of growth. It is in this context that we recently launched our first international Zudio store in the UAE and the Zudio Beauty concept in India.

Trent Share Performance

The 52-week high price of Trent share on BSE is Rs 8345.85 per share (as on 14/10/2024) and 52-week low price is Rs 2390.75 per share (as on 08/11/2023), respectively. The market capitalisation of Trent stood at Rs 2,28,926.82 crore. Trent shares declined 14% in last 2-weeks, gained 43% in last 6-months, and offered return of 114% in last 6-months only. In last 2-years, Trent shares jumped 326%.

Should You Buy Trent Shares?

Global brokerage firm Citi recommended buy call to Tata Group stock Trent with a price target of Rs 9,250.

Trent Dividend In 2024

As per the BSE filing dated April 29, "The Board of Directors of the Company have recommended a Dividend of 320% i.e., Rs. 3.20/- per Equity Share of Re. 1/- each, subject to the approval of shareholders.

Trent Stock Split History

Trent split the face value of its shares once since September 12, 2016. Trent split the face value of its shares from Rs 10 to Re 1 in 2016. It fixed ex-date as September 12, 2016.

Trent Shareholding

Sbi life insurance co ltd has 2.31% stake in Trent with 8,193,990 shares of the company. FII/FPI have increased holdings from 26.81% to 27.87% in June 2024 quarter. Number of FII/FPI investors increased from 869 to 1014 in June 2024 quarter. Mutual Funds have decreased holdings from 8.72% to 8.50% in June 2024 quarter. Number of MF schemes increased from 38 to 41 in June 2024 quarter. Institutional Investors have increased holdings from 40.71% to 41.06% in June 2024 quarter, according to Trendlyne.

Trent About

Trent Limited is part of the Tata Group and operates a portfolio of retail concepts. The primary customer propositions of Trent include Westside, one of India's leading chains of fashion retail stores, Zudio, a one stop destination for great fashion at great value and Star, which operates in the competitive food, grocery and daily needs segment. Westside stores have a footprint of predominantly between 20,000-30,000 sq. ft. across 86 cities. Westside stocks a broad range of products ranging from apparel, footwear, accessories to cosmetics and perfumes to home accessories and gifts amongst others.

Disclaimer: The stock has been picked from the brokerage report of Citi. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.