Trent shares surged past the Rs 7,000 mark during Thursday’s trading session for the first time, continuing a record-breaking streak that has spanned more than a decade.
This Tata Group company’s stock has seen a striking growth trajectory since it hit the lows of Rs 365 on March 24, 2020. It was the same day that the nationwide lockdown to combat the Covid-19 pandemic came into force.
Trent’s stock has appreciated nearly 20 times over the past four-and-a-half years. Trent has shown consistent strength in the stock market, recording gains every single month since August 2023.
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How have Trent shares performed on a monthly basis?
The last significant decline in the stock occurred in January 2023, when it dropped by 11.5%. The only other months in 2023 where the stock saw losses were April, with a modest dip of 0.4%, and July, down by 0.5%.
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The company’s performance on an annual basis has been equally impressive, delivering positive returns every year since 2014. Notably, the stock doubled in 2023 and has already doubled again in 2024. Even in 2013, the negative returns were minimal, at just 3%.
Recently, Tata Group company Trent is set to be included in the Nifty 50 index in September 2024.. According to Nuvama Alternative & Quantitative Research, this inclusion could result in inflows of up to $500 million for the stock.
Does Trent shares have valuation comfort?
Currently, Trent’s shares are trading at a one-year forward price-to-earnings (P/E) ratio of 97 times and a current year P/E ratio of 143 times. The company’s financial performance has also been robust.
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With revenue for the June quarter growing by 56% year-on-year, and net profit more than doubling with a 134% increase. Additionally, Trent’s EBITDA margin for the quarter expanded by 90 basis points.
Stock Performance in last one year
Trent shares have delivered positive returns across various time frames. Over the last month, the stock has shown a positive return of 24.41%, indicating short-term growth. In the last six months, the performance has been even more impressive, with a substantial increase of 74.31%, showcasing the stock’s resilience and upward momentum.
Year-to-date, Trent shares have surged by 128.55%, emphasizing the stock’s positive trajectory in the current calendar year. Looking back over the last twelve months, the stock has demonstrated significant growth, surpassing 242.12%. These consistent positive returns underscore the stock’s strong performance and appeal to investors.
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