Sell Trent., target price Rs 1190: Motilal Oswal Financial Services

Motilal Oswal Financial Services has sell call on Trent with a target price of Rs 1190.The current market price of Trent Ltd. is Rs 1248.45. Motilal Oswal Financial Services recommended to keep stoploss at Rs 1275.
Trent., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 44489.26 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 30-09-2022, the company has reported a Consolidated Total Income of Rs 2022.66 Crore, up 9.51 % from last quarter Total Income of Rs 1846.98 Crore and up 65.04 % from last year same quarter Total Income of Rs 1225.52 Crore. Company has reported net profit after tax of Rs 64.98 Crore in latest quarter.

The company’s top management includes Mr.S N Tata, Mr.H Ravichandar, Mr.R S Gill, Mr.S Given, Mr.J Merchant, Mr.H Bhat, Mr.B N Vakil, Mr.B Bhat, Mr.P Venkatesalu, Mr.N N Tata, Mr.J Holtzhausen. Company has Deloitte Haskins & Sells LLP as its auditors. As on 30-09-2022, the company has a total of 36 Crore shares outstanding.

Investment Rationale
Stock has been making lower lows from the last four weeks with follow up selling after breakdown.

Promoter/FII Holdings
Promoters held 37.01 per cent stake in the company as of 30-Sep-2022, while FIIs owned 26.82 per cent, DIIs 15.09 per cent.