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20-Jul2017

Trent trades higher on getting nod to enter into definitive agreement with THPL

Trent is currently trading at Rs. 257.20, up by 1.05 points or 0.41% from its previous closing of Rs. 256.15 on the BSE.

The scrip opened at Rs. 257.40 and has touched a high and low of Rs. 257.40 and Rs. 255.05 respectively. So far 2040 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 276.50 on 03-Apr-2017 and a 52 week low of Rs. 173.65 on 28-Jul-2016.

Last one week high and low of the scrip stood at Rs. 272.40 and Rs. 242.90 respectively. The current market cap of the company is Rs. 8497.34 crore.

The promoters holding in the company stood at 32.61%, while Institutions and Non-Institutions held 38.66% and 28.73% respectively.

Trent has received an approval for entering into definitive agreement with Trent Hypermarket (THPL), a Joint Venture of the company, for acquiring their value fashion apparel business. The value fashion business presents significant synergies with the existing apparel business of the company. The board of directors at its meeting held on July 19, 2017 approved for the same.

Trent is part of the Tata Group and is engaged in business of retailing. Trent acquired 76% stake in Landmark, one of the largest books and music retail chains in the India.


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