Buy Trent, target price Rs 770: ICICI Securities

ICICI Securities has buy call on Trent with a target price of Rs 770. The current market price of Trent Ltd. is Rs 714.15.
Trent Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 24944.56 Crore) operating in Retail sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 895.95 Crore, up 43.91 % from last quarter Total Income of Rs 622.58 Crore and down -12.82 % from last year same quarter Total Income of Rs 1027.69 Crore. Company reported net profit after tax of Rs 61.10 Crore in latest quarter.


Investment Rationale
At the cusp of breakout after forming resilient higher base above 50 DMA

Promoter/FII Holdings
Promoters held 37 per cent stake in the company as of Dec 30, 2020, while FIIs held 29.4 per cent, DIIs 10 per cent and public and others 23.6 per cent.