A public shareholder of Trent Ltd., Dodona Holdings, sold a 0.29% stake in the company for Rs 846.14 crore through an open market transaction on Monday.
Dodona Holdings exchanged 10.42 lakh shares with Siddhartha Yog for Rs 8,115 apiece, according to the National Stock Exchange block data. As of June 2024, Dodona Holdings held a 4.53% stake in the company.
Yog is a global investor and a founding partner of Xander Group Inc. It is an emerging market-focused investment firm that manages assets of more than $3 billion.
He is also the founder and chairman of Virtuous Retail, an institutional owner and operator of community-focused shopping centres.
Previous Deals
Earlier, in September, Yog had acquired a 0.3% stake in the Tata Group retail firm for Rs 718 crore. At that time, Dodona Holdings had sold 10 lakh shares at Rs 7,115 apiece.
Before that, in August, he had acquired a 0.27% stake in the company for Rs 649 crore through a block deal. Even at that time, Dodona Holdings was the seller and it had offloaded 9.48 lakh shares at a price range of Rs 5,220–6,925 apiece.
Trent Q1 Performance
Trent's net profit soared by 134.1% to Rs 391 crore in the quarter ended June 30, 2024, compared to Rs 167 crore for the same period last year.
The retailer reported a revenue of Rs 4,104 crore, indicating a 56.2% rise for the first quarter of the financial year 2025 compared to Rs 2,628 crore in the previous fiscal's similar period.
Operating income, or Ebitda, rose 66.8% year-on-year to Rs 613 crore. The Ebitda margin expanded to 14.9% from 14% over the same period last year.
Shares of Trent closed 0.52% lower at Rs 8,191.85 apiece, compared to a 0.66% rise in the benchmark NSE Nifty.
The stock has risen 288.67% in the last 12 months and 168.25% year-to-date.
Out of 21 analysts tracking the company, 13 maintain a "buy" rating, four recommend a "hold," and four suggest a "sell," according to the Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 17.8%.
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