Trent Share Price: As a sizable conglomerate with numerous listed businesses, the Tata Group’s stock performance might differ greatly. The general perception of Tata Group equities is still favorable, despite some stocks having had corrections or changes. With this article, let’s learn about the multibagger stock that failed to buy 38%.
Stock in News: Trent Share Price
The stock in question, according to many reports, is Trent, a retail company owned by the Tata Group. The stock has gained a lot over the last year, but according to a recent study, it may not have met several internal goals. Notwithstanding, brokerage firms maintain their optimism over its future performance, pointing to elements such as its growth ambitions and robust development in the retail value sector.
Brief Background of Trent Limited
The company was first established on December 5, 1952, under the name Lakme Limited (“Lakme”). Lakme was involved in:
The Production,
Distribution,
Exportation of cosmetics, toiletries, and fragrances.
Since most categories lacked well-known names, Lakme chose to focus on clothing sales instead of continuing with its cosmetics business in 1998. By establishing a department stores chain around the nation, it was determined that Lakme would forge a significant foothold in the retailing of clothing and soft products.
Lakme Exports Limited, a Lakme subsidiary, was merged with LIIPL on January 1, 1998, and the combined company was renamed Trent Limited. Following this, Trent Limited and Lakme Limited combined, and Lakme Limited was renamed Trent Limited, effective July 1, 1998.
Analysts Opinion on Trent Share Price
The December quarter results of Trent Ltd. caused several analysts who follow the stock to lower their price objective by 14% to 16%. The Trent share price fell 8% after the company’s results were announced during Thursday’s trading hours. Expectations were met by Trent’s performance, and the business kept its margins at 18%. The Trent share price had already dropped earlier in the week due to worries over Reliance Retail’s relaunch of the Shein, a Chinese brand in India.
Moreover, the street’s maximum objective for Trent, ₹9,350, was lowered to ₹7,800 by Citi and the brokerage company Bernstein also reduced its price objective for Trent from ₹8,100 to ₹6,900, while keeping its “outperform” rating. Therefore, the stock price movement on Thursday was referred to be a “over-reaction” after the results.
Conclusion
Trent share price is in news due to all obvious reasons but one should always keep in mind that historical stock performance does not guarantee future outcomes. Risks are always there while making stock market investments, so it’s important to conduct your own research and speak with a financial expert before making any choices.
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