Shares of Tata Group's retail arm Trent Ltd have delivered multibagger returns in the long term. Trent shares climbed 363%, 435% and 824% in two years, three years and five years, respectively. However, the multibagger stock is oversold on charts, with its RSI at 26.
3. This indicates there are more sellers for Trent shares than buyers. The 23% correction this month indicates the short term selloff in the Tata Group stock.
The ongoing correction in the short term has sent moving averages for the stock in the red zone. Trent stock is trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages. Trent stock hit a record high of Rs 8,345.
85 on October 14, 2024. It has lost 34.63% since then.
It has seen high volatility in the last one year with a beta of 1.1. The stock was trading on a flat note in the current session.
Trent stock was down just 0.02% to Rs 5446 against the previous close of Rs 5447.90 on BSE.
Market cap of the firm fell to Rs 1.94 lakh crore. Axis Securities has a price target of Rs 6050 with a buy call.
The duration for this call is six to nine months. The brokerage listed out the following factors behind its bullish stance. A.
Trent: Leading with Distinction: Trent reported strong Q2FY25 results, with revenue increasing 40% YoY to Rs 4,036 Cr and EBITDA growing 39% YoY, maintaining stable EBITDA margins of 16%. The strong performance is expected to sustain in Q3FY25 despite a challenging environment. The company’s.
