Results▲ Bullish for Trent
Rs 17,540 crore added to Trent mcap, but Citi stays bearish. Why Morgan Stanley disagrees
The brief
- Trent shares rose 13% after strong Q2 revenue growth and Zudio crossed 1,000 stores
- Citi stayed bearish, while Morgan Stanley disagreed
- Trent’s growth outlook is directly relevant to Indian retail investors
- Citi leads global IPO underwriting through September, just ahead of Goldman Sachs
- DMart falls 6.7% as Citi, Goldman retain sell call
- Citi to speed up promotion path for junior bankers as hiring war heats up
- Citi Speeds Junior Bankers’ Ascent in Fight With Private Equity
- Avenue Supermarts shares fall 6% as Citi maintains 'sell' rating on stock
Trent's Q2 revenue growth and share rally
Trent reported standalone Q2 revenue of ₹5,788 crore, up 23% year on year, and said Zudio had crossed 1,000 stores. Its shares surged as brokerages assessed the update, with Citi cautious and Morgan Stanley more positive.
Tuesday, 6 October
- Rs 17,540 crore added to Trent mcap, but Citi stays bearish. Why Morgan Stanley disagrees