India's Trident jumps most in over 2 mths on March production growth

Trident

11/04/2023 08:29

** Shares of Trident Ltd  TRIE.NS  rise as much as 8.1% to
32.20 rupees, their biggest intraday pct gain since Jan. 31
    ** Co Monday said production of products under its home
textiles division grew between 7.4% and 14.5% in March, compared
to a year before
    ** Textiles division generally contributes 76% to 87% to
co's revenue, as per Refinitiv data
    ** TRIE shares at highest since Feb. 20; up for 8th
consecutive session of gains and longest winning streak since
Jan. 17, 2022 if gains hold
    ** Stock currently above 50-day simple moving average (SMA)
price of 30.37 rupees and near its 100-day SMA of 32.49 rupees
    ** Over 26 mln shares traded by 12:52 p.m. IST, 3.4x their
30-day avg volume
    ** Stock last up 5.7%, cutting YTD losses to 8%

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