Trent scrip hogged the limelight in an otherwise dull market today. The stock hit the 20 per cent upper limit at Rs 102.05 on the Bombay Stock Exchange. More than 32,000 shares changed hands. In the last ten trading sessions including today, Trent has gained 44 per cent from Rs 70.95 on February 28.
Promoted by Simone Tata, Trent was formerly known as Lakme. It received its present name after the amalgamation with Trent, formerly known as Littlewoods International (India), in July 1998.
Trent's Westside stores promise customers an international shopping experience and value-for-money. High quality, contemporary designs and a plethora of products have been successfully balanced to create the ultimate shopping experience.
Analysts at local brokerage said that the rise in the scrip is purely on value buying since the company has a huge cash balance of Rs 100 crore and is expected to launch a few more retail outlets in Mumbai. Analysts are optimistic about the company and its management, and feel that the company will put up a good show in the years to come.
What began as just one store at Bangalore, has now expanded to other metros, such as Mumbai, Hyderabad and Chennai. The Westside stores have several departments to meet the varied shopping needs of customers. These include menswear, womenswear, lingerie, kidswear, household accessories, cosmetics and perfumes sections. Complementing the shopping ambience, is a coffee shop, Cafe West, managed by the Taj Group.
The company has already established four Westside departmental stores spread over 20,000 square feet each, in Mumbai, Bangalore, Hyderabad and Chennai. The company hopes to expand rapidly with similar format stores that offer a fine balance between style and price retailing. Future plans include establishing the Westside brand in all large towns with a population of over one lakh. The company has also launched a loyalty programme called "Club West", which offers various benefits to customers/members.
For the third quarter ended December 31, 2001, Trent posted a 26.5 per cent decline in net profit to Rs 2.50 crore compared with Rs 3.40 crore in the corresponding period of the previous year. However, net sales rose by 64.3 per cent to Rs 24 crore from Rs 14.6 crore in December quarter 2000.
