Trent zooms on Tesco`s joint venture proposal

DALAL STREET SPIKES

Trent, the Tata Group’s retail arm, jumped 10 per cent On Tuesday to close at Rs 545.85 after Tesco, the UK’s biggest supermarket chain, chose its subsidiary, Trent Hypermarket, as its exclusive partner for a chain of wholesale stores in India.

The global retail giant plans to invest about Rs 480 crore over two years to develop a wholesale cash-and-carry business in India. Trent’s access to Tesco’s retail expertise and technical capability will help in the development of Trent’s hypermarket business, Star Bazaar.