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Trent gains on fund raising plan

Trent rose 0.97% to Rs 399.75 at 09:25 IST on BSE after the company scheduled a board meeting on 18 June 2019 to consider fund raising plan.

The announcement was made after market hours yesterday, 13 June 2019.

Meanwhile, the S&P BSE Sensex was down 95.17 points, or 0.24% at 39,646.19

On the BSE, 2,188 shares were traded on the counter so far as against the average daily volumes of 16,000 shares in the past two weeks. The stock had hit a high of Rs 399.75 and a low of Rs 397 so far during the day.

Trent scheduled a board meeting on 18 June 2019 to consider and approve the proposal for raising of funds through issue of equity shares or other securities including through rights issue or qualified institutions placement or debt issue or a preferential issue or any other permissible mode or a combination thereof.

Trent's net profit rose 36.79% to Rs 15.95 crore on 26.47% increase in net sales to Rs 668.67 crore in Q4 March 2019 over Q4 March 2018.

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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