Trent Limited, a Tata Group enterprise, on Friday executed a joint venture with MAS Amity Pte. Ltd to set up an entity in India for sourcing, designing and manufacturing activewear and related products.
“MAS brings impeccable capabilities and a track record in the manufacture of high-quality products in this space. This collaboration between Trent and MAS would deepen Trent’s strategic commitment to offer fully owned brands at its retail stores and enable MAS to expand their international presence further. We are excited at the prospects of leveraging our joint synergies and deliver greater value to our customers,” said Noel N Tata, Chairman of Trent Ltd.
Trent is a part of the Tata Group and it operates a portfolio of retail concepts like Westside, Zudio and Trent Hypermarket which operates under the Star banner. Its shares were trading at ₹ 1,195.00 apiece at 11:34 AM on the National Stock Exchange (NSE) on Tuesday. It is a large-cap company with a market capitalization of ₹ 41,850 crores.
Motilal Oswal Financial Services has a buy call on the shares of Trent, with a target price of ₹ 1,700 per share. This translates to an upside of 42.26% as compared to its share price.
The brokerage expects the company’s revenue to grow by 56.4% in Q3FY23, led by strong SSSG and new store additions. It expects Westside to add seven new stores and Zudio to add thirteen new stores during the quarter. In addition, it expects the company’s revenue to grow due to improved throughput and footprint additions.
Written by Simran Bafna
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