At ₹7,640.05 (+2.56%) at 10:20 AM, Trent has emerged as the top gainer on the Nifty today. The stock opened at ₹7,520.00, reached a high of ₹7,644.65, and a low of ₹7,451.00.
Morgan Stanley has maintained its Overweight rating on Trent with a target price of ₹8,032, indicating a potential upside of 7% from the current levels. The brokerage firm commended Trent’s strategic entry into the mass-priced beauty segment through Zudio Beauty, seeing this as a growth catalyst.
The Beauty and Personal Care (BPC) segment has been a significant contributor to sales in both Westside and Zudio stores. The report also noted that the BPC business has expanded, driven by indulgent and impulsive customer behavior. Additionally, emerging categories’ contribution to Trent’s standalone revenue has doubled from 10% to 20%, further boosting investor confidence in the stock.
