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Trent Shares Dip Amid Slower Growth Despite Profit Beat
Trent Shares Dip Amid Slower Growth Despite Profit Beat
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BTCCSquare news:
Trent Limited's shares fell 0.48% to ₹5,331 as the Tata Group retailer reported its slowest revenue growth in two years, despite exceeding profit expectations for the June quarter. Revenue growth decelerated sharply to 20% year-on-year, down from 57% in the same period last year.
Brokerages maintained buy ratings but slashed target prices, reflecting concerns over the growth slowdown. Citi reduced its target to ₹7,150, while MOSL trimmed its outlook to ₹6,400. Bernstein termed the revenue performance a "significant disappointment" despite retaining an outperform rating.
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