Trent gets ‘buy’ rating from Sharekhan with 20% upside

Sharekhan expects double-digit growth in Westside revues with encouraging performance from new stores opened in over the the past 12 months.

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Trent stock price jumped over 4 percent in the morning trade on February 9, a day after the Tata group retail firm reported a consolidated net profit of Rs 154.81 crore in the December quarter, up from Rs 113 crore in the year-ago period.

Its revenue from operations was at Rs 2,303.38 crore against Rs 1,499.08 crore in the third quarter of FY22. Trent’s total expenses were at Rs 2,189.62 crore, the company said in a regulatory filing.

At 9.52 am, Trent, which operates Westside fashion chain and Landmark bookstores, was quoting at Rs 1,291.45, up Rs 55.75, or 4.51 percent on BSE. The scrip was trading with volumes of 38,585 shares, compared to its five-day average of 21,201 shares, an increase of 81.99 percent.

Westside reported a growth of 17 percent in same-store sales. It operates 211 Westside stores, 326 Zudio stores and 21 stores across other lifestyle concepts.