Trent's share price slipped by over 2% in morning trade on the Bombay Stock Exchange (BSE) on Thursday, December 11, to hit its 52-week low of ₹3,931.45. The stock opened at ₹4,046.55 but failed to maintain its position and dropped to its lowest point in a year.
Trent's share price has been under pressure since November, with a decline of over 7% this month and over 9% in November. This brings the total decline to over 16% in less than two months. Compared to the Sensex, which has gained 7.5% year-to-date, Trent's share price has plummeted by nearly 45%.
Trent shares hit their 52-week high of ₹7,490 on January 3. The recent decline comes after the company reported its September quarter earnings, which led to renewed pressure on the stock.
Trent's consolidated profit after tax for the September quarter rose 11.45% year-on-year to ₹373.42 crore. Revenue from operations increased by 16% year-on-year to ₹4,817.68 crore. EBITDA rose 21% year-on-year to ₹843.53 crore, with an EBITDA margin of 17.5%, up 7 basis points year-on-year.
Despite the decline, some investors may see this as an opportunity for value buying. However, it's essential to consult with certified experts before making any investment decisions, as market conditions can change rapidly.
Stay tuned for fresh updates on this developing story. Read all market-related news here.
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