Tata's specialty retail company hits an all-time high today; here’s why
Over the past six months shares of the company have given an amazing return of 71.37 per cent.
Trent which is a Tata Group company in the business of retail hit an all-time high today amid anticipation as the company is scheduled to release unaudited financial results for the second quarter and the first half of the fiscal year, ending on September 30, 2023 today.
Yesterday, the stock closed at Rs 2232.15. Today, it opened at Rs 2235.05 and closed at Rs 2428.20, up by an 8.78 per cent increase. The stock today hit an all-time high at Rs 2454 while its 52-week low stands at Rs 1155.10. The company currently boasts a market capitalization of approximately Rs 86,300 crore. Over the past six months shares of the company have given an amazing return of 71.37 per cent, in the same time frame BSE Consumer Discretionary has given a return of 21.45 per cent.
Trent Ltd is engaged in retailing of apparel, footwear, accessories, toys, games, food, grocery & and non-food products through various of its retail formats/ concepts. Presently, the company operates around 400 stores under various retail concepts like Westside (174 stores) - It offers branded fashion apparel, footwear and accessories and it follows an "own-brand-led" business model that allows active control across the value chain with respect to key aspects of the business. Zudio (133 stores) - It is the company's value fashion concept and offers fashion at competitive prices for women, men, and children. It also operates Star Market with 60 stores a hypermarket and supermarket store chain, Zara & Massima Dutti with 24 stores and other concept stores with 19 outlets.
Talking about the financials of the company, on a consolidated basis, in Q2FY24 the company recorded a financial performance with a 188.90 per cent year-on-year increase in net profit, reaching Rs 228.06 crore compared to Rs 78.94 crore in the corresponding quarter of the previous year. During the second quarter of FY24, the company's total net revenue showed an increase of 51.41 per cent from Rs 2022.66 crore to Rs 3062.47 crore compared to the same quarter in the preceding year.
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