Bulk deal alert: Trent Ltd witnessed a significant block deal on Monday, with shares traded worth Rs 838.84 crore. Investor Siddhartha Yog purchased shares from Dodona Holdings at an average price of Rs 6,985. After this Tata Group bulk deal, the stock closed 0.96% lower at Rs 7,068.20, reflecting a shift of 0.33% in stake ownership.
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Over the past year, the stock has exhibited low volatility, with a beta of 0.9. 20,000 shares exchanged hands on the BSE, resulting in a turnover of Rs 13.87 crore. Trent’s market capitalization is Rs 2.51 lakh crore as of the latest trading. Notably, the stock hit a 52-week low of Rs 2,180.15 on November 3, 2023.
Currently, the stock’s relative strength index (RSI) is 36.3, indicating that it is neither overbought nor oversold. While Trent shares trade higher than their 100, 150, and 200-day moving averages, they remain below the 5, 10, 20, 30, and 50-day averages.
Trent’s stock has surged by an impressive 369% over the last two years. It has also seen a 221% increase over the past year and a staggering 546% return over three years.
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The company is poised to announce its Q2 earnings on November 7. For the June quarter, Trent reported a remarkable 225% year-on-year rise in consolidated net profit, climbing to Rs 391 crore from Rs 167 crore. Revenues also increased by 56%, reaching Rs 4,104 crore compared to Rs 2,628 crore in the previous year.
