Trent shares reached an intraday low of Rs 3,988, close to their 52-week low of Rs 3,931.
Trent’s stock price had run up in the last few days (up 9 per cent since December 19) on expectations of a pick-up in revenue growth. A weaker-than-expected number could weigh on stock price recovery, MOFSL said.
Seasoned value investor of Dalal Street, Radhakishan Damani, took a big blow on Tuesday as Trent shares crumbled more than 8 per cent at the opening tick today.
The Tata Group's multibagger stock ended on a flat note at Rs 4,045 in the previous session. Market cap of the firm stood at Rs 1.43 lakh crore.
Trent has dropped 42.51 per cent from the Rs 7,116.15 level it traded at the end of 2024. The stock contributed Rs 1,07,542 crore negatively to the Tata group m-cap.
Trent shares were trading on a flat note at Rs 4,226.80 today . Over the last year, the stock has seen a decline of nearly 38% and has dropped 40.15% on a year-to-date basis.
Going ahead, said Axis Securities, all eyes would be on demand outlook in metros, tier 2 and tier 3 towns amid the festive season. Investors would also track store expansion guidance, the brokerage said.
Multibagger stock: Trent shares slipped 3.86% to Rs 4590.90 on BSE. Market cap of the firm fell to Rs 1.66 lakh crore.
Trent is said to be well-positioned to navigate the competitive business environment in the medium to long term. Its foray into the Gen-Z demand through its brand Burnt Toast (BT) is said to be a positive development.
The earnings upgrades were led by Kotak Mahindra Bank (6.6 per cent), followed by Mahindra & Mahindra (M&M), Maruti Suzuki India (1.8 per cent), Eicher Motors (1.8 per cent) and Tata Steel (1.4 per cent).
Tata Technologies Ltd, Tata Elxsi Ltd, Tata Teleservices (Maharashtra) Ltd, Tata Communications Ltd, Tata Chemicals Ltd and Tata Power Company Ltd contributed negatively to the group m-cap.





