Trent hits record high after strong Q1 earnings

Trent jumped 4.76% to Rs 280.50 at 10:56 IST on BSE after net profit spurted 63.7% to Rs 38.15 crore on 24.9% increase in net sales to Rs 499.16 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 31 July 2017.

Meanwhile, the S&P BSE Sensex was down 18.33 points, or 0.06% at 32,496.61. The S&P BSE Mid-Cap index was up 59.49 points, or 0.39% at 15,449.06.

High volumes were witnessed on the counter. On the BSE, 1.53 lakh shares were traded on the counter so far as against the average daily volumes of 19,812 shares in the past one quarter. The stock had hit a high of Rs 299.95 so far during the day, which is also its record high. The stock hit a low of Rs 276.05 so far during the day. The stock had hit a 52-week low of Rs 176.80 on 2 December 2016.

The stock had outperformed the market over the past one month till 31 July 2017, advancing 13.21% compared with the Sensex's 5.15% rise. The scrip had, however, underperformed the market over the past one quarter advancing 6.67% as against the Sensex's 8.68% rise. The scrip had, however, outperformed the market over the past one year advancing 46.74% as against the Sensex's 15.91% rise.

The mid-cap company has equity capital of Rs 33.23 crore. Face value per share is Rs 1.

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 major cities.

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