Trent gains on likely alliance with Future Group

Trent rose 2.78% to Rs 1,510 at 13:38 IST on BSE on reports that Future Group is likely to tie-up with Star Bazaar for distributing private FMCG labels.

Meanwhile, the BSE Sensex was up 282.23 points, or 1.16%, to 24,525.21.

On BSE, so far 960 shares were traded in the counter, compared with an average volume of 8,188 shares in the past one quarter. The stock hit a high of Rs 1,519 and a low of Rs 1,485.50 so far during the day. The stock hit a record high of Rs 1,771 on 1 January 2016. The stock hit a 52-week low of Rs 1,095 on 3 June 2015. The stock had underperformed the market over the past one month till 2 March 2016, sliding 3.62% compared with 1.21% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 6.15% as against Sensex's 7.18% fall.

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

According to reports, Future Group is in the process of forging distribution alliance with Trent's Star Bazaar outlets. Under the deal, Future Consumer Enterprise may sell its private packaged food and grocery brands in Star Bazaar outlets. Shares of Future Consumer Enterprise were down 3.87% at Rs 21.10.

Net profit of Trent rose 95.45% to Rs 31.33 crore on 11.23% rise in net sales to Rs 374.44 crore in Q3 December 2015 over Q3 December 2014.

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.

Powered by Capital Market - Live News