India's Trent hits record high

Shoppers Stop

19/08/2024 10:51

** Shares of fashion retailer Trent  TREN.NS  climb ~3% to a
record high of 6,750 rupees 
    ** Stock on track for third straight session of gains
    ** Reuters could not immediately ascertain a reason for the
stock move
    ** TREN reported two-fold jump in Q1 profit on August 9;
stock hit record high then
    ** Trent's Q1 results an outlier among apparel retailers,
says Morgan Stanley
    ** TREN only company among consumer retailers which has not
seen downward revision in earnings estimates in last three
months, says Morgan Stanley
    ** Analysts' avg rating on TREN, rival Shoppers Stop
 SHOP.NS  at "hold", while Nykaa  FSNE.NS  rated "buy" - LSEG
data
    ** TREN records more than two-fold YTD climb, while FSNE and
SHOP gain 11% and 12%, respectively
    

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))