The stock markets are on a stellar run since the last few weeks with the key benchmark indices witnessing record highs. The positive sentiment in the broader market has helped retail investors to make money from some high yielding stocks. One such multibagger stock is Trent Ltd, a Tata Group company, which has given stellar returns to investors this year.
Trent Ltd, the retail arm of the Tata Group, has emerged as a multi-bagger stock, showcasing consistent profitability. Earlier this month, the company’s market capitalisation surpassed Rs 1 lakh crore mark. The stock has more than doubled the investors’ money in 2023.
Investors in Trent Ltd have witnessed a gain of nearly 124% on their investments so far this year. Over the last three months, the stock has surged by nearly 47%. The company has exhibited an impressive track record, delivering a 342% return in the last three years.
Trent Ltd owns prominent brands such as Westside, Zudio, and Trent Hypermarket. The company has a significant presence in apparel, beauty products and fashion retail sectors. As of March 31, 2023, Trent Ltd was operating 214 Westside stores across 90 cities and 352 Zudio stores in 119 cities.
The company, through Trent Hypermarket Private Limited, has partnered with the UK’s Tesco PLC, operating 63 star stores across 10 cities in the UK.
The financial performance of Trent Ltd in the second quarter of the current fiscal year has been remarkable. The company recorded a 56% year-on-year (YoY) growth in net profit at Rs 289.6 crore in September 2023 quarter. Total revenue for Q2FY24 surged 59% YoY to Rs 2,891 crore compared to Rs 1,841 crore reported in the corresponding quarter in the preceding financial year.
Shares of Trent Ltd closed 0.43% higher at Rs 3,023.5 apiece on BSE on Thursday, December 28.
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