This surge in the company’s shares comes after the news of strong results for the March quarter, positive management remarks, and an increase in target prices by brokerage firms.
Foreign brokerage firm Jefferies has raised the target price of the stock to Rs 4,150, but its rating remains ‘hold.’
The company said it profited from a one-time profit of Rs 543 crore during the quarter. The company’s revenues in the March quarter increased by 53.4% to Rs 3,187 crore.
As of March 31st, Trent’s portfolio includes 232 Westside stores, 545 Zudio stores, and 34 other lifestyle stores.
Meanwhile, Ancient Stock Broking has upgraded its rating on the stock from ‘hold’ to ‘buy’ and raised its target price from ₹3,771 to ₹4,876.