Trent drops amid intraday volatility

Trent was down 0.36% to Rs 1,683 at 15:23 IST on BSE, with the stock sliding amid intraday volatility.

Meanwhile, the S&P BSE Sensex was down 609.71 points or 2.26% at 26,392.51.

On BSE, so far 5,331 shares were traded in the counter as against average daily volume of 9,007 shares in the past one quarter. The stock was volatile. The stock lost as much as 5.94% at the day's low of Rs 1,588.65 so far during the day. The stock rose as much as 1.72% at the day's high of Rs 1,718.25 so far during the day. The stock had hit a record high of Rs 1,856 on 25 May 2016. The stock had hit a 52-week low of Rs 1,116.95 on 29 June 2015. The stock had underperformed the market over the past one month till 23 June 2016, sliding 4.21% compared with Sensex's 7.02% rise. The scrip had, however, outperformed the market in past one quarter, gaining 8.05% as against Sensex's 6.57% rise.

The mid-cap company has equity capital of Rs 33.23 crore. Face value per share is Rs 10.

Trent announced during market hours today, 24 June 2016 that it has scheduled a board meeting on 28 June 2016, to consider stock-split proposal and issue of non-convertible debentures on private placement basis.

Trent's net profit rose 48.6% to Rs 17.02 crore on 14.9% growth in net sales to Rs 369.94 crore in Q4 March 2016 over Q4 March 2015.

Trent, a retail arm of the Tata group, operates retail chain Westside and bookstore chain Landmark in various locations of India. Trent also operates the hypermarket Star Bazaar in 8 Indian cities.

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