Trent market cap hits ₹1 lakh crore as shares touch new all-time high | Mint
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Business News/ Markets / Stock Markets/  Trent market cap hits 1 lakh crore as shares touch new all-time high
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Trent market cap hits ₹1 lakh crore as shares touch new all-time high

Shares of Trent, the retail arm of Tata Group, hit a new all-time high of ₹2,826 apiece in Friday's trade, propelling the company's market capitalisation to cross the ₹1,00,000 crore mark.

On November 23, Titan, Tata Group’s jewellery -to-eyewear brand, crossed the ₹3,00,000 crore m-cap.Premium
On November 23, Titan, Tata Group’s jewellery -to-eyewear brand, crossed the 3,00,000 crore m-cap.

Shares of Trent, the retail arm of Tata Group, hit a new all-time high of 2,826 apiece in Friday's trade. This historic high has propelled the company's market capitalisation to cross the 1,00,000 crore mark. When considering the stock's highest price of 2,826, its market capitalisation touched 1,00,464 crore today. 

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 capitalisation exceeding one lakh crore.

Also Read: Titan Stock Check: M-cap crosses 3 lakh crore; should you buy now?

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 10 out of the last 11 years (including 2023) 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 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, Tata Group’s jewellery-to-eyewear brand, crossed the 3,00,000 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%. In the previous trading session, the stock touched a new record high of 717.25 apiece.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.

 

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Published: 01 Dec 2023, 11:59 AM IST
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