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Trent adds over 20% in six days

Capital Market 

Trent gained 1.53% to Rs 762.45, extended gains for sixth day in a row.

The stock has added 20.35% in six sessions from its recent closing low of Rs 633.55 on 8 September 2020.

On a year-to-date (YTD) basis, the stock has gained 44% while the benchmark S&P BSE Sensex fell 5% during the same period. The stock has surged 107.44% from its 52-week low of Rs 367.55 hit on 24 March 2020.

On the technical front, the stock's RSI (relative strength index) stood 68.773. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is currently trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 690.10, 668.42 and 632.62, respectively.

Trent operates Westside, one of India's leading chains of fashion retail stores, Trent Hypermarket which operates in the competitive food, grocery and daily needs segment under the Star banner, Landmark Stores, a family entertainment format store & Zudio which is a one shop destination to get fashion at great value.

The company reported a consolidated net loss of Rs 184.04 crore in Q1 June 2020 as against net profit of Rs 36.32 crore posted in Q1 June 2019. Net sales for Q1 June 2020 stood at Rs 248.41 crore, nearly 69% lower than Rs 799.88 crore in Q1 June 2019. Revenues were impacted due to the Covid 19 related store closures for a major part of the quarter.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, September 16 2020. 13:43 IST