Shares of Trent Limited surged over 10 per cent in early Tuesday trade on the National Stock Exchange after the Tata Group fashion retailer reported a stronger-than-expected revenue performance for the July-September quarter. The stock touched a high of ₹2,909 and was trading around ₹2,851 at 10.31 am, up ₹271 or 10.51 per cent from its previous close of ₹2,580, on volumes of 32.60 lakh shares worth ₹928 crore, with buy orders outpacing sell orders at a 62:38 ratio.
The rally follows Trent’s announcement on standalone revenue from operations of ₹5,788 crore for Q2FY27, a 23 per cent year-on-year increase and the second consecutive quarter of 20 per cent-plus growth. The figure was well ahead of analyst estimates pegged at around 18 per cent. For the first half of FY27, revenue stood at ₹11,454 crore, up 21 per cent over the same period last year.
The quarter also marked the opening of Trent’s 1,000th Zudio store. The company added 10 net Westside and 17 net Zudio outlets, taking its total fashion store portfolio to 1,342 as of September 30, 2026.
Brokerage reaction has been broadly positive. HSBC reiterated a Buy with a target price of ₹3,390, calling the result ahead of its 19 per cent estimate. Morgan Stanley maintained an Overweight rating with a ₹3,406 target, noting that the beat was particularly meaningful given an unfavourable festive calendar shift into the third quarter. Motilal Oswal also retained its Buy call.
Citi, however, stayed with a Sell rating and a ₹2,950 target, flagging that revenue per square foot declined 8.4 per cent year-on-year, an improvement over the prior four quarters but still weak, and cautioning on rising competition and input cost pressures. Net store additions of 56 in H1FY27 also lagged the 58 added in the same period last year.
At current levels, the stock trades at a trailing price-to-earnings multiple of around 75 times.
Published on October 6, 2026
