The brokerage house has a mixed view on the stock of Trent Ltd after the quarterly results. Stock market veteran and Rakesh Jhunjhunwala’s guru Radhakishan Damani has also invested in Tata Group’s stock.
Tata Group Multibagger Stock: After releasing the results for the December quarter, today Tata Group stock Trent Ltd is seeing flat trading. The stock of the company remains between Rs 1099 and Rs 1055 today. The company’s profit grew by 79 per cent to Rs 199 crore in the December quarter, from Rs 111 crore in the year-ago quarter. At the same time, there has been a growth of 85 percent in revenue. The brokerage house has a mixed view on the company’s stock after the quarterly results. Brokerage house ICICI Securities has given investment advice in the stock. On the other hand, Motilal Oswal has given a rating of Neutral on the stock. Let us inform that in this stock of Tata Group, stock market veteran and Rakesh Jhunjhunwala’s guru Radhakishan Damani has also invested.
How much stake does Radhakishan Damani have?
Radhakishan Damani has done Nivea in Trent Ltd. He holds 1.5% stake in the company. He has not sold a single share of the company in the December quarter. According to the data of Trendline, not a single share of the company has decreased in his portfolio for the last 5 quarters. He currently holds 5,421,131 shares of Trent Ltd, whose value is Rs 582.8 crore.
Company increased stores, expected growth
Brokerage house ICICI Securities has advised to invest in Trent Ltd and has set a target of Rs 1250 for the stock. The brokerage house says that the company’s revenue has increased by 86 percent year-on-year to Rs 1350 crore. It’s better than expected. While the EBITDA stood at 290 crores which is as per the estimates. There has been good growth in Westside. The company has added 67 new stores to YTDFY22, taking the total to 197 stores in Westside and 177 in Zudio. The company estimates that by the end of FY22, combined i.e. Westside and Zudio will have more than 425 stores. However, there is a risk of COVID 19 and lower discretionary spend.
about the company
Trent Ltd is the retail business arm of the Tata Group. Westside, Zudio and Zara JV are popular names in fashion retail. At the same time, the company also operates hypermarkets in the food, grocery segment. The Landmark Store is the company’s family entertainment format. Now the company has launched Westside.com. Trent also plans to take advantage of the Tata digital platform. The stock of Trent Ltd has given about 55 percent returns to the investors in the last 1 year.
(Disclaimer: Stock investment advice is given by the brokerage house. These are not the personal views of The Financial Express. Markets are risky, so take expert opinion before investing.)
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