Trent shares jumped 7%: Why Tata group stock led Sensex, Nifty gainers today
Trent opened 22 net Westside stores and 109 Zudio stores. For FY26, it opened 52 net Westside stores and 198 net Zudio stores.
- Apr 6, 2026,
- Updated Apr 6, 2026 10:56 AM IST
Shares of Trent Ltd climbed nearly 7 per cent in Monday's trade and was the top Sensex and Nifty gainer after the Tata group firm came out with its March quarter business update. The retailer, which had 4,83,585 individual investors with up to Rs 2 lakh nominal share capital, said its revenue for the March quarter jumped 20 per cent year-on-year (YoY) to Rs 4,937 crore compared with Rs 4,106 crore in the same quarter last year. With this, Trent reported 18 per cent YoY revenue growth at Rs 19,701 crore for FY26 against Rs 16,668 crore in the same quarter last year.
"Revenue from sale of merchandise (excluding other operating income) grew 21 per cent and 19 per ecnt during the quarter and the year ended March 2026 respectively," Trent said. It added that its portfolio included 1,286 stores includes 300 Westside, 963 Zudio (including 6 in the UAE) and 23 stores across other lifestyle concepts as of March 31, 2026.
For the quarter, Trent opened 22 net new Westside stores and 109 Zudio stores. For FY26, it opened 52 net Westside stores and 198 Zudio stores. Following the development, the stock rose 6.65 per cent to hit a high of Rs 3,790 on BSE, leading Sensex gainers.
In a recent note, ICICI Securities said its channel checks across Westside, Zudio, Yousta, and Intune reveal a stable but highly divergent demand environment where execution is the primary differentiator.
"Trent’s formats, Westside and Zudio, are clearly outperforming peers, driven by disciplined inventory management, frequent fresh stock arrivals (weekly), and decent consumer traction in low-ticket beauty and personal care items. In contrast, competing value fashion formats like Intune (Shoppers Stop) and Yousta (Reliance) are showing merchandising gaps, struggling with older inventory (from midCY25) and facing soft consumer demand," it said on March 24.
The brokerage expected Trent to report revenue, Ebitda and profit growth of 18 per cent, 22 per cent and 14 per cent, respectively, over FY25–28E.
"We maintain ADD with an unchanged target of Rs 4,100, as per SoTP valuation. At our TP, the stock trades at 62x P/E multiple on Mar’28E earnings. Downside risks: 1) Slowerthan-expected pick-up in discretionary consumption; 2) rise in competitive intensity from peers (Reliance Trends, Max, Pantaloons etc.); and 3) execution challenges in Zudio and other newer formats. Upside risk: Success of Zudio, and other pilot formats," it said.
Shares of Trent Ltd climbed nearly 7 per cent in Monday's trade and was the top Sensex and Nifty gainer after the Tata group firm came out with its March quarter business update. The retailer, which had 4,83,585 individual investors with up to Rs 2 lakh nominal share capital, said its revenue for the March quarter jumped 20 per cent year-on-year (YoY) to Rs 4,937 crore compared with Rs 4,106 crore in the same quarter last year. With this, Trent reported 18 per cent YoY revenue growth at Rs 19,701 crore for FY26 against Rs 16,668 crore in the same quarter last year.
"Revenue from sale of merchandise (excluding other operating income) grew 21 per cent and 19 per ecnt during the quarter and the year ended March 2026 respectively," Trent said. It added that its portfolio included 1,286 stores includes 300 Westside, 963 Zudio (including 6 in the UAE) and 23 stores across other lifestyle concepts as of March 31, 2026.
For the quarter, Trent opened 22 net new Westside stores and 109 Zudio stores. For FY26, it opened 52 net Westside stores and 198 Zudio stores. Following the development, the stock rose 6.65 per cent to hit a high of Rs 3,790 on BSE, leading Sensex gainers.
In a recent note, ICICI Securities said its channel checks across Westside, Zudio, Yousta, and Intune reveal a stable but highly divergent demand environment where execution is the primary differentiator.
"Trent’s formats, Westside and Zudio, are clearly outperforming peers, driven by disciplined inventory management, frequent fresh stock arrivals (weekly), and decent consumer traction in low-ticket beauty and personal care items. In contrast, competing value fashion formats like Intune (Shoppers Stop) and Yousta (Reliance) are showing merchandising gaps, struggling with older inventory (from midCY25) and facing soft consumer demand," it said on March 24.
The brokerage expected Trent to report revenue, Ebitda and profit growth of 18 per cent, 22 per cent and 14 per cent, respectively, over FY25–28E.
"We maintain ADD with an unchanged target of Rs 4,100, as per SoTP valuation. At our TP, the stock trades at 62x P/E multiple on Mar’28E earnings. Downside risks: 1) Slowerthan-expected pick-up in discretionary consumption; 2) rise in competitive intensity from peers (Reliance Trends, Max, Pantaloons etc.); and 3) execution challenges in Zudio and other newer formats. Upside risk: Success of Zudio, and other pilot formats," it said.