Buy Trent, target price Rs 1620: ICICI Direct

ICICI Direct has buy call on Trent with a target price of Rs 1620.0. The current market price of Trent is Rs 1372.6 Time period given by analyst is year when Trent price can reach defined target.

Trent, incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 46876.35 crore) operating in Retail sector.

Trent key Products/Revenue Segments include Readymade Garments, Other Operating Revenue and Rent for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2022, the company has reported a Consolidated Total Income of Rs 1846.98 crore, up 34.52 % from last quarter Total Income of Rs 1372.97 crore and up 239.03 % from last year same quarter Total Income of Rs 544.79 crore. Company has reported net profit after tax of Rs 80.92 crore in latest quarter.

Investment Rationale
Trent has been an exceptional performer with the stock price appreciating at ~35% CAGR in the last five years. Robust performance during challenging times and industry-leading performance will continue to warrant premium valuations for Trent, ICICIDirect said. Hence, we maintain our BUY rating on the stock, it added.