On August 27, Trent Ltd witnessed a significant block deal, with 6.8 lakh shares changing hands for ₹470 crore. The shares were sold at ₹6,925 each, closely aligned with the stock’s previous close of ₹6,930.
The company’s stock has more than doubled this year, surging over 130% since January. Notably, Trent Ltd is set to join the NSE Nifty 50 index on September 30.
As of 9:25 am, shares were trading at ₹6,924 on the NSE.
Recently, Chairman Noel Tata said that fashion retailer Trent Ltd has the potential to expand to ten times its current size. However, he did not specify a timeline for this growth.
The fashion and apparel sector in India is experiencing significant growth, driven by a large young population and rising per capita income.
In the past year, investor interest in the Tata Group’s retail division has surged, resulting in a 250% increase in the company’s share price since the August 21 closing price of ₹6,776.70 on the BSE.
Trent’s market capitalization has been bolstered by the success of its smaller format store, Zudio, reaching over ₹2.4 lakh crore and making it the fourth most valuable company in the Tata Group.
