Trent shares up 1.62% as Sensex falls

Shares of Trent Ltd. gained 1.62 per cent to Rs 1464.25 in Thursday's session as of 10:05AM (IST) even as the equity benchmark Sensex traded 2.24 points lower at 61937.96.

Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 1571.0 and a 52-week low of Rs 983.7 on NSE. Around 7655 shares changed hands on the counter till 10:05AM (IST).

The stock opened at Rs 1439.3 and has touched an intraday high and low of Rs 1465.95 and Rs 1439.3 during the session so far. The scrip quoted a price-to-earnings (PE) ratio of 116.71, earnings per share (EPS) of Rs 12.51 and price to book value (PB) of 18.83, while the return on equity (ROE) stood at Rs 17.13.

Promoter/ FII Holding
The promoters held 37.01 per cent stake in the company as of May 11, while FII and MF ownerships stood at 24.43 per cent and 8.91 per cent, respectively.

Key Financials
With a market capitalisation of Rs 51901.17 crore, the company operates in the Retail - Apparel/Accessories industry. For the quarter ended 31-Mar-2023, the company reported consolidated sales of Rs 2268.06 crore, down 4.11 per cent from the previous quarter?s Rs 2365.24 crore and down 65.19 per cent from the same quarter a year ago. The company reported net profit of Rs 54.16 crore for the latest quarter, up 33750.0 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 71.89. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.