A shareholder of Trent Ltd. sold shares for Rs 808.53 crore in the company through open market transactions on Tuesday. Dodona Holdings sold 10.73 lakh shares or 0.3% at Rs 7,533 apiece, according to block deal data on the NSE. As of June, held a 4.53% stake in the company.
Siddhartha Yog acquired 10.73 lakh shares, or 0.3%, at Rs 7,533 apiece.
Earlier on Sept. 2, Dodona Holdings had offloaded 10.09 lakh shares, representing a 0.28% stake at Rs 718 crore. Also, Siddhartha Yog was the buyer for the transaction.
The company's net profit surged 134.1% year-on-year to Rs 391 crore in the quarter ended June 30, 2024, compared to Rs 167 crore for the same period last year, according to an exchange filing.
The retailer's revenue rose by 56.2% to Rs 4,104 crore for the April-June quarter, as against Rs 2,628 crore in the same period last year.
Also Read: Festivals, Fast Fashion To Drive 8-10% Revenue Growth For Retailers This Year, Crisil Says
Shares of Trent closed 0.14% lower at Rs 761.15 apiece, compared to a 0.02% fall in the benchmark BSE Sensex. The stock had risen 253.32% in the last 12 months and 149.48% year-to-date. The relative strength index was 77.85.
Out of 20 analysts tracking the company, 12 maintain a 'buy', four suggest a 'hold' and four recommend a 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target is Rs 6,332.69, implying a downside of 16.9% from the last closing price.
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