Trent has extended its gains, for the second consecutive day, after Tesco Plc, British multinational grocery and general merchandise retailer, announced a joint venture with Tata Group's Trent.
Tesco Plc is the first foreign supermarket chain to invest in India.
Following the announcement and receipt of requisite approvals, Tesco has completed the establishment of a 50:50 joint venture with Trent.
Meanwhile, Trent is working with Tata for the past 5 years and is supporting the development of Star Bazaar and Star Daily multi-brand retail stores via the provision of wholesale and franchise agreements, Tesco said in a release to the BSE.
Trent has surged 5% to Rs 1104 on the BSE. The stock opened at Rs 1068, touched a high of Rs 1116 and a low of Rs 1060 on the BSE thus far. A total of 22,136 shares were traded on both the stock exchanges so far.
