{"id":100168,"date":"2023-04-11T16:02:00","date_gmt":"2023-04-11T10:32:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=100168"},"modified":"2023-04-11T15:56:11","modified_gmt":"2023-04-11T10:26:11","slug":"textile-stock-jumps-8-after-business-update-brokerage-sees-an-upside-of-26","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/textile-stock-jumps-8-after-business-update-brokerage-sees-an-upside-of-26\/","title":{"rendered":"Textile stock jumps 8% after business update; Brokerage sees an upside of 26%"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3519801195\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of Trident Ltd gained 8.05% on Tuesday\u2019s early trades to reach an intraday high of \u20b9 32.20 apiece after the company released a business update. Its shares were trading at 31.60, up 6.04% at 01:42 PM.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2831908338\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/TRIDENT\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Trident Ltd<\/a><\/strong> is the flagship company of the Trident group and is a leading manufacturer of yarn, bath linen, wheat-straw-based paper, chemicals and captive power. In addition, it manufactures paper and chemicals like battery-grade sulphuric acid.\u00a0<\/p><p>Trident informed the exchanges that for the month of March, It produced 3,556 metric tons of bath linen, 3.12 million tonnes of bed linen and 8,675 metric tonnes of yarn. Moreover, it produced 12,010 metric tonnes of paper and 9,378 metric tonnes of chemicals.&nbsp;<\/p><p>About two weeks ago, the company\u2019s promoter Madhuraj Foundation bought 1.23 crore equity shares of the company in a block deal aggregating to around \u20b9 31.89 crores.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-824657122\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p><strong>Brokerage firm Motilal Oswal has a buy rating on the stock with a target price of \u20b9 40. This implies an upside of 26.58% as compared to the company\u2019s current share price of \u20b9 31.60.\u00a0<\/strong><\/p><p>In a report last month, JM Financial said that Trident continues to remain well placed as structural drivers of increased market share in the US, US\u2019 ban on Xinjiang imports, duty reimbursement by GOI and market share gain on China+1 theme are likely to drive earnings going forward. However, it said that the near-term demand environment for the textile segment is expected to remain muted given recessionary fears and inventory pile-up at retailer levels.&nbsp;<\/p><p>Trident is a small-cap company with a market capitalization of \u20b9 14,919 crores. It has an ideal return on equity of 23.25% and an ideal debt-to-equity ratio of 0.31. The company\u2019s shares were trading at a price-to-earnings ratio of 30.33, which is lower than the industry P\/E of 46.64, indicating that the stock might be undervalued as compared to its peers. It has a dividend yield of 1.81%&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-765763429\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of Trident Ltd gained 8.05% on Tuesday\u2019s early trades to reach an intraday high of \u20b9 32.20 apiece after the company released a business update. Its shares were trading at 31.60, up 6.04% at 01:42 PM.&nbsp; Trident Ltd is the flagship company of the Trident group and is a leading manufacturer of yarn, bath [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":39466,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[5641,5946,5213,5836,948,936,3153,3157,2597,7916,7915,6838,6839,8344,4189,2715,8346,8345],"class_list":["post-100168","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-small-cap-stock-to-buy-in-2023","tag-small-cap-stock-to-buy-now","tag-small-cap-stock-to-watch","tag-small-cap-stocks-to-buy-now","tag-stock-market","tag-stock-market-news","tag-stock-to-buy","tag-stock-to-watch","tag-stocks-to-watch","tag-textile-stock-to-buy-in-2023","tag-textile-stock-to-watch","tag-textile-stocks-to-buy-now","tag-textile-stocks-to-watch","tag-trident-business","tag-trident-news","tag-trident-share-price","tag-trident-targets","tag-why-did-trident-jump-today"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Textile stock jumps 8% after business update; Brokerage sees an upside of 26% - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The company is a leading manufacturer of yarn, bath linen, wheat-straw-based paper, chemicals and captive power. 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