India's Trent jumps to record high after report on Zudio's mass-priced beauty foray

Avenue Supermarts

08/10/2024 09:34

** Shares of Trent Ltd  TREN.NS  rise as much as 7.4% to a
record high of 7,999 rupees
    ** TREN's fast-growing fashion retailer Zudio is foraying
into mass-priced beauty products, The Economic Times reported,
citing two executives aware of the development
    ** Morgan Stanley maintains the food and fashion retailer's
stock rating at "overweight" and a PT of 8,032 rupees – the
third highest on Street
    ** Brokerage notes Trent's beauty and personal care business
has built scale, while commenting on a     
    ** Analysts tracking TREN rate it "buy" on avg vs "hold" for
DMart operator Avenue Supermarts  AVEU.NS  and "sell" for Aditya
Birla Fashion and Retail  ADIA.NS  - LSEG data
    ** TREN stock up 2.6x YTD vs ADIA's 49% rise and AVEU's ~11%
growth


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))