Trident gained 3.85% to Rs 56.70 at 12:00 IST on BSE after the company said that it has incorporated Trident Europe as wholly owned subsidiary in United Kingdom.
The company made announcement during market hours today, 27 November 2015.
Meanwhile, the S&P BSE Sensex was up 144.22 points or 0.56% at 26,103.25.
On BSE, so far 2.36 lakh shares were traded in the counter as against average daily volume of 4.17 lakh shares in the past one quarter.
The stock hit a high of Rs 56.75, which is also a record high for the stock. The stock hit a low of Rs 54.15 so far during the day. The stock had hit a 52-week low of Rs 19.30 on 26 March 2015.
The stock had outperformed the market over the past one month till 26 November 2015, gaining 15.92% compared with 5.13% fall in the Sensex. The scrip had also outperformed the market in past one quarter, jumping 55.11% as against Sensex's 0.95% rise.
The mid-cap company has equity capital of Rs 508.95 crore. Face value per share is Rs 10.
Trident said that the wholly owned subsidiary will help the company to widen its reach in European markets, strengthening its marketing channels and will act as a catalyst to superior customer service in those markets.
Trident's net profit jumped 142.8% to Rs 51 crore on 0.4% decline in net sales to Rs 956.70 crore in Q2 September 2015 over Q2 September 2014.
Trident is a leading manufacturer and exporter of home textiles & paper products.
Powered by Capital Market - Live News
