Multibagger Tata Group stock hits record high on Q1 earnings, check details

Shares of Trent Ltd hit their record high today after the Tata Group firm reported a 225% year-on-year rise in consolidated net profit for the June quarter. Net profit rose to Rs 391 crore in Q1 against net profit of Rs 167 crore in the corresponding quarter of last fiscal. The multibagger stock hit a high of Rs 6,375, rising 13% today against the previous close of Rs 5642.80 on BSE. The stock has climbed 247% in a year and gained 371% in two years. In three years, the Tata Group stock has climbed 570%. 

Total 1.67 lakh shares of the firm changed hands amounting to a turnover of Rs 102.08 crore on BSE. Market cap of the firm rose to Rs 2.20 lakh crore on BSE. The Tata Group's multibagger stock hit a 52-week low of Rs 1790.95 on August 10, 2023. Trent shares have a beta of 0.7, indicating low volatility in a year. 

In terms of technicals, the relative strength index (RSI) of the stock stands at 56.9, signaling it's trading neither in the overbought nor in the oversold zone. Trent stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.    

Revenues zoomed 56% on-year to Rs 4104 crore compared to Rs 2628 crore in the corresponding quarter a year ago. 

EBITDA or earnings before interest, taxes, depreciation and amortisation climbed 199% on-year to Rs 400 crore against Rs 266 crore in the year-ago quarter. 

Noel N Tata, Chairman, Trent Limited said, "The overall market sentiment remains subdued with increased competitive intensity. On our part, we continue to witness encouraging traction for our lifestyle offerings across brands, concepts, categories and channels. Focus on delivering consistent and improved value propositions keep us relevant for our customers."

Trent Limited is part of the Tata Group and operates a portfolio of retail concepts. The primary customer propositions of Trent include Westside, one of India's leading chains of fashion retail stores, Zudio, a one stop destination for great fashion at great value and Star, which operates in the competitive food, grocery and daily needs segment.