Curated By: Business Desk
Last Updated: November 09, 2023, 20:43 IST
The multibagger inventory prolonged its rally for the fifth consecutive day.
Shares of Trent Ltd surged over 8% to hit an all-time excessive of Rs 2,504.95 per share on BSE on Wednesday after the corporate reported robust Q2 outcomes.
Trent Ltd is underneath radar because the brokerages stay bullish on this Tata Group inventory after robust Q2 outcomes. The multibagger inventory prolonged its rally for the fifth consecutive day to shut in inexperienced at Rs 2,477.40 apiece, up 1.01%, on BSE on Thursday.
The retail enterprise arm of the Tata Group has delivered a staggering return of near 25,000% over the previous 24 years. It was buying and selling at Rs 9.87 throughout its launch on January 1, 1999, and on Thursday, November 9, 2023, it touched the session’s excessive of Rs 2,485.
Shares of Trent Ltd surged over 8% to hit an all-time excessive of Rs 2,504.95 per share on BSE on Wednesday after the corporate reported robust Q2 outcomes.
Notably, the inventory has gained 64.99% in a 12 months and has multiplied buyers’ cash by over 6 instances within the final 5 years.
Brokerages stay bullish on Trent
Several brokerage homes turned bullish on Trent not too long ago. Domestic brokerage Centrum Broking has maintained a ‘Buy’ ranking on Trent, growing its worth goal to Rs 2,657 per share.
Another brokerage, Systematix Institutional Equities, additionally maintained a ‘Buy’ ranking and set a brand new goal worth of Rs 2,750. Motilal Oswal and Kotak Institutional Equities have additionally given constructive suggestions on the inventory. Motilal Oswal raised the value goal for the inventory and set it at Rs 2,750 per share whereas Kotak Institutional Equities recommented a goal worth of Rs 2,700 per piece.
Trent Q2 Results
Trent, in its quarterly outcomes launched on November 7, reported robust progress in income and internet revenue. Trent’s consolidated income went up 52.73% to Rs 2,982 crore, and internet revenue shot up by a whopping 189% 12 months-on-12 months to Rs 228 crore in September quarter of FY24 in comparison with the 12 months-in the past interval. On the opposite hand, the corporate’s income elevated by 13.47% quarter-on-quarter, and internet revenue went up by 35.31%.
