Tata Group's Trent Ltd enters list of 100 most valued companies in India

Trent Ltd, a Tata Group company, entered the list of 100 most valued companies in India by market capitalisation as its stock hit an all-time high of Rs 1,479. The company's market cap rose above Rs 50,000 crore. So far in 2022, the stock has rallied over 39 per cent, according to a report by Mint.

In the past 5 trading sessions alone, the share price of Trent Ltd has jumped 11 per cent. On NSE, Trent rose 4.63 per cent to close at Rs 1,475.30, on Wednesday. On BSE, the share price of Trent rose 4.6 per cent to close at Rs 1,475.10 per share.

Trent Ltd had reported a net profit of Rs 115 crore in the first quarter of the current financial year (Q1FY23). In Q1FY22, the company reported a loss of Rs 138 crore. The revenue of the company rose from Rs 492 crore in Q1FY22 to Rs 1,803 crore in Q1FY23.

"The group's financial performance for the corresponding quarter of the previous year had been impacted by Covid-related business disruptions. The relative operating performance for a few weeks in Q4FY22 had also got impacted due to temporary restrictions imposed in wake of the third Covid wave. However, Covid-related disruptions have declined thereafter," the company said in a statement.

"Robust performance during challenging times and industry-leading performance will continue to warrant premium valuations for Trent," ICICI Securities said, according to Mint.

Trent deals in apparel, footwear, furnishings, and accessories, among other things. Westside, a flagship concept of the Tata Group comes under Trent Ltd.