At 2:45 pm, Trent’s market cap stood at Rs 100,183.47 crore. TCS occupies the top spot with a market cap of Rs 12.83 lakh crore followed by Titan at (Rs 3.10 lakh crore), Tata Motors (2.35 lakh crore) and Tata Steel (Rs 1.60 lakh crore).
Trent shares jumped nearly 2% to the day’s high of Rs 2,837.40.
Trent has given multibagger returns of 109% in 2023, outperforming Nifty50 which has returned over 11% during this period. The last 12-month gains by this counter stand at 92%.
Trent is trading above its 50-day and 200-day simple moving averages (SMAs), according to Trendlyne. The counter has remained unbeaten over the past four trading sessions and gained more than 7% during this period. The rally has taken it into a strongly overbought zone with the day’s RSI and MFI at 88.8 and 92.2, Trendlyne data suggested.
Despite its strong moves over the last year, the stock has traded with considerable stability. The 1-year beta, a measure of volatility, stands at 0.2.
The stock is also traded in the derivatives segment.Trent reported a surge of 189% in consolidated net profit at Rs 228.06 crore in the second quarter (Q2) ended September 30, 2023, against the net profit of Rs 78.94 crore in the previous fiscal.
The company’s total income jumped 51.4% to Rs 3,062.47 crore in Q2 FY24 as against Rs 2,022.66 crore in the corresponding quarter of the previous fiscal.
Trent’s total expenses also grew at a high rate to Rs 2,773.52 crore in Q2 FY24 from Rs 1,899.49 crore in the same period of the last fiscal, according to the BSE filing.
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