Trent market cap hits ₹1 lakh crore as shares touch new all-time high

Remarkably, Trent has added 52% to its market cap in 2023 alone. Starting the year at ₹1,358 per share, the stock has experienced an extraordinary surge of 107% to its current level of ₹2,816. According to the latest BSE data, there are currently 62 stocks with a market capitalization exceeding ₹one lakh crore.

The stock showed strength in 09 out of the last 11 months. The standout months were November, which saw a robust 29.35% gain, and August and May, with returns of 16.60% and 14.09%, respectively.

What’s even more impressive is that the stock has shown remarkable consistency, concluding eight out of the last nine years in positive territory and delivering steady returns to its investors. Among these, 2023 stands out as the best yearly performance, surpassing the previous record in CY17 when shares rallied 68.24%.

Trent 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 Trent Hypermarket, which operates in the competitive food, grocery, and daily needs segment under the Star banner.

For the September-ending quarter, the company reported robust performance across all its key formats. It reported a standalone net profit of ₹290 crore in Q2FY24, signifying a remarkable 56% YoY increase.

It reported a standalone revenue growth of 59.37% YoY at ₹2,891 crore, driven by aggressive store additions in Zudio and 10% LFL growth in fashion concepts (Westside, Zudio, and other lifestyle stores). The company opened 6 Westside and 27 Zudio stores and closed four stores each in 2QFY24, taking the total store count to 222 and 411.

Following the Q2 results, domestic brokerage firms maintained their ‘buy’ recommendations for the stock, with many of them revising their target prices upwards.

Also Read: Tata Motors shares hit all-time high ahead of Tata Technologies IPO listing date

Meanwhile, on November 23, Titan, the Tata Group’s jewelry-to-eyewear brand, crossed the ₹3,00,000 lakh crore m-cap. Further, shares of Tata Motors, the global automobile manufacturer, delivered exceptional performance in CY23 so far, with a return of 82.14%, and in the previous trading session, the stock touched a new record high of ₹717.25 apiece.

Disclaimer: We advise investors to check with certified experts before taking any investment decisions.