Trent shares up 1.78% as Sensex falls

Shares of Trent Ltd. gained 1.78 per cent to Rs 1716.5 in Wednesday's session as of 10:00AM (IST) even as the equity benchmark Sensex traded 104.1 points lower at 63039.06.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 1730.0 and a 52-week low of Rs 1009.0 on NSE. Around 13921 shares changed hands on the counter till 10:00AM (IST).

The stock opened at Rs 1695.05 and has touched an intraday high and low of Rs 1730.0 and Rs 1680.45 during the session so far. The scrip quoted a price-to-earnings (PE) ratio of 135.33, 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 June 14, 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 60178.69 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 88.25. 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.