Trent's Stock Soars 5%, Hitting 52-Week High on Back of Expansion Strategy

13 Jun 2023 , 12:52 PM

Trent, a Tata group company, experienced a 5% surge in its share price in early trade on June 13, reaching a 52-week high of Rs 1,675. The market responded positively to Trent’s aggressive expansion plan announced during its annual general meeting (AGM).

The company’s plan to add 200 stores for Zudio in FY24 exceeded the expectations of most brokerages, creating optimism among investors.

Other key highlights from the AGM included a guidance of 30 store additions for Westside, 10 Samoh stores in FY24, and a gross capital expenditure plan of Rs 800 crore for the current fiscal year. Trent is also eyeing expansion opportunities in the international market, signaling its ambition for further growth.

At the time of writing, Trent shares were trading at Rs 1,667 on the National Stock Exchange, reflecting a 4.5% increase.

For feedback and suggestions, write to us at [e-mail]