Trent has given multibagger returns of 109% in 2023, outperforming Nifty50 which has returned over 11% during this period. The last 12-month gains by this counter stand at 92%. Trent is trading above its 50-day and 200-day simple moving averages (SMAs), according to Trendlyne.
Indian retailer Trent reported a nearly three-fold surge in Q2 profit due to strong demand ahead of the festive season and boosted sales for weddings. The company’s consolidated net profit rose to INR 2.35 billion ($28.23 million) in the quarter ending September 30. Despite rising total expenses, Trent’s revenue from operations also rose 52.7% during the same period.
