TRENT

** Apparel retailer Trent TREN.NS rises 0.67% to 5,353 rupees ahead of Q1 results

** Three analysts expect 'Zudio' brand owner's net profit up nearly 14%, a multi-quarter slowdown

** Q1 standalone revenue growth of 20% is slowest since March 2021, below co and analysts' expectations amid muted urban demand, early monsoon rains

** Average rating from 22 analysts still "buy", with avg PT of 6,061 rupees implying a nearly 13% upside to current price

** Analysts note growth moderation is expected after almost 40% CAGR over past 5 years.

** Antique Stock Broking and Motilal Oswal say Trent well-positioned to expand Zudio, its affordable fashion chain and biggest contributor to revenue, in FY26

** YTD, Trent is down ~25%

(Reporting by Ananta Agarwal in Bengaluru)

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** Indian fashion retailer Trent TREN.NS falls 3.4% to a two-month low of 5,176 rupees

** TREN down ~17% so far in July, on course for its third-worst month in a decade

** Goldman Sachs downgrades stock to "neutral" from "buy", reduces PT to 5,500 rupees from 6,970 rupees, as per multiple news reports

** Says pace of market share gains could be slower than anticipated amid cannibalization concerns

** Tata group company earlier said that growth in Q1 is expected to be underwhelming

** Analysts on avg recommend “buy” on TREN; median PT 6,151.5 rupees, as per data compiled by LSEG

** YTD, TREN down ~27%, biggest loser among Nifty 50 .NSEI stocks

(Reporting by Vivek Kumar M)

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** Shares of Indian fashion retailer Trent <TREN.NS> fall 7.5% to 5,720 rupees apiece, worst intra-day pct. fall since April 7

** Stock top loser on Nifty 50 index TREN.NS, which is mostly flat

** Co at its annual general meeting on Thursday said it expects growth in fashion segment at ~20% in Q1FY26

** The outlook is sharply down from its five-year CAGR of 35% (FY20–25), Nuvama said in a note, downgrading stock to "hold" from "buy" and cut PT to 5,884 rupees from 6,627 rupees

** Brokerage cuts FY26E/27E revenue by 5%-6% and EBITDA by 9%-12%

** Growth trajectory for Q1FY26 seems to be underwhelming given the high expectations based on the past track record of growth - Nuvama

** Trent down 19% YTD, including session moves, vs 7.5% rise in Nifty 50 index

(Reporting by Sethuraman NR in Bengaluru)

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** India's Trent TREN.NS, Titan TITN.NS, Dabur DABU.NS are among companies that will benefit from reported indirect tax cut plan, says Goldman Sachs

** Broadcaster India Today reported, citing sources, that the government plans to cut 12% GST on certain items to 5% or eliminate the 12% tax slab altogether

** GST council did not immediately respond to Reuters' request for comment

** GST is the abbreviation for Goods and Services Tax, an indirect tax implemented in 2017

** 12% GST applies on apparel priced above 1,000 Indian rupees ($11.7), footwear priced below $11.7, confectionery, fruit drinks, jam, toothpowder and eyewear, among others - GS

** Brokerage also adds Bata India BATA.NS, Nestle India NEST.NS in beneficiary list

** Says reported tax cut plan could help improve consumer demand for branded products, potentially accelerating volume-led growth

** NEST up 0.5%, DABU rises 0.4%; TREN, TITN and BATA down 0.8%, 0.2% and 0.15% respectively

($1 = 85.6820 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of fashion retailer Trent TREN.NS rise 2% to 5,740.5 rupees apiece

** TREN is the second-highest pct gainer on Nifty 50 index .NSEI, which is down 0.25%

** Morgan Stanley reiterates "overweight" rating, expects TREN to achieve 10x FY23 revenue by FY32

** Says strong cash flows, improvement in return ratios and profitability augur well for future earnings growth

** Citi retains "buy" and notes growth opportunity for TREN in value retail segment

** Average rating of 21 analysts tracking TREN is "buy"; median PT is 6,224 rupees - data compiled by LSEG

** YTD - TREN down 21%, underperforming 4.8% rise in Nifty 50

(Reporting by Bharath Rajeswaran in Bengaluru)

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** India's Bharat Electronics BAJE.NS and Trent TREN.NS gain 1% and 2.3%, respectively

** BAJE and TREN to replace IndusInd Bank INBK.NS and Nestle India NEST.NS on BSE Sensex BSESN, effective June 23, exchange operator said on Thursday

** Sensex inclusion to result in inflows worth $304 million for TREN and $354 million for BAJE, IIFL Securities estimates

** NEST and INBK to see outflows worth $220 million and $134 million on exclusion - IIFL

** INBK and NEST trading flat

(Reporting by Kashish Tandon in Bengaluru)

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** Trent TREN.NS plunges as much as 19.3% to 4,488 rupees; marks sharpest intraday pct loss since March 23, 2020

** Fashion retailer's Q4 rev rises 28% y/y, slowest since January-March 2021 when it faced pandemic-induced operational disruptions

** Antique Stock Broking says Q4 sales down 10% q/q, compared to 4.3% q/q in Q4 FY23 and 3.8% q/q in Q4 FY24

** Retains "buy", cuts TP to 6,801 rupees from 7,363 rupees

** Stock top loser on Nifty 50 index .NSEI, which is down 4% amid broader selloff over mounting concerns of trade war .BO

** YTD, TREN sheds 35.7%, overtakes IndusInd Bank INBK.NS (down 31.3%) as the worst-performing stock on NSEI

(Reporting by Ashish Chandra in Bengaluru)

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** Shares of Trent TREN.NS rose 6.6% this week; fifth straight weekly gain

** Earlier this week, the fashion retailer had crossed a portfolio of more than 1,000 large box fashion stores, including 757 stores of its flagship brand Zudio, which are set to boost revenue

** Stock eyes best week since Feb. 3

** 19 analysts covering the stock on avg. have a "buy" rating; median PT is 6,245 rupees - LSEG data

** Stock shed 20.3% so far this year, vs a 3% drop in benchmark Nifty 50 index .NSEI

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Trent TREN.NS gains 4.6% to 5,572 rupees; second biggest gainer on Nifty 50 index .NSEI

** Fashion retailer crosses portfolio of more than 1,000 large box fashion stores, including 757 stores of its flagship brand Zudio, which are set to boost revenue

** Milestone represents an increase of more than 200 Zudio stores since Q4 FY24, in line with or exceeding what analysts expected

** Current store count implies more than 100 new Zudio store openings in Q4 FY25

** Stock set for biggest one-day pct gain in 2 months

** TREN is down 21.5% YTD over concerns of growth slowdown

(Reporting by Ananta Agarwal in Bengaluru)

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March 27 - ** Macquarie initiates coverage on Indian fashion retailer Trent TREN.NS with 'outperform', citing leading growth and returns

** Says Trent's 45% sales CAGR, steady margin expansion and a 3x return on capital employed (ROCE) expansion over FY23-25 among the best in Asia

** Macquarie sees current weakness in consumer sentiment as an attractive entry point for stock

** Trent's shares, up 1.5% at 5,402 rupees on the day, have fallen ~24% YTD

** Brokerage's PT of 7,000 rupees, implies a nearly 30% upside

** Sees scope for flagship brand Zudio's expansion, whose store count of ~700 trails Reliance's RELI.NS Trends, which exceeds 2,000

** Adds concerns over Shein's entry in India "overblown", as replicating its China cost advantage with an Indian supply chain would be difficult

(Reporting by Ananta Agarwal in Bengaluru)

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March 19 (Reuters) - Trent Ltd TREN.NS:

• BOOKER INDIA TO ACQUIRE 100% EQUITY OF TSSL FROM THPL

• DEAL WORTH 1.66 BILLION RUPEES

Source text: ID:nBSE3H0ZJH

Further company coverage: TREN.NS

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** Shares of retail stores operator Trent TREN.NS fall 3.6% to 4,819.2 rupees

** Stock among top pct losers on Nifty 50 index .NSEI, which is down 0.43%

** Kotak Institutional Securities cuts PT to 5,150 rupees from 5,550 rupees, maintains "reduce" rating

** Continue to see pressure on co's revenue on account of its densely-located newer Westside and Zudio stores, brokerage says

** Lowers its revenue estimates for Westside for FY2026-27, which it says will result in ~0.3%-1.0% rev cut for Trent

** Rev reduction affects margins, leading to a 1%-5% cut in EPS - Kotak

** Avg rating of 18 analysts is a 'buy;' their median PT is 6,123.5 rupees - LSEG

** TREN has shed 30% so far this year vs a 5% drop in Nifty 50

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Apparel retailer Trent TREN.NS set to be the top monthly loser in India's benchmark Nifty index .NSEI

** Stock on track to lose more than 11% in value in Feb

** TREN fell 8.2% on February 6, its biggest one day pct decline in 2 years, after posting its lowest qtrly revenue growth since March 2021

** Analysts have expressed concern that stores of the co's flagship brand Zudio are in locations too close to each other, leading to decline in same store sales growth y/y

** TREN closed lower in 13 out of 20 trading sessions in the month

** On the day, stock down 1.12% at 4750.5 rupees

(Reporting by Ananta Agarwal in Bengaluru)

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Feb 6 (Reuters) - Trent Ltd TREN.NS:

• Q3 CONSOL NET PROFIT 4.97 BILLION RUPEES; IBES EST. 4.46 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 46.57 BILLION RUPEES; IBES EST. 46.08 BILLION RUPEES

Source text: [ID:]

Further company coverage: TREN.NS

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** Shares of Tata-owned Trent TREN.NS rise 2% to 5,865 rupees

** Shares of TREN slipped 6% on Tuesday after reports flagged concerns on the impact of re-launch of Shein India app by Reliance Retail, Goldman Sachs analysts said

** The brokerage says it would take several years of supply chain investments to see meaningful scale up of a value fast-fashion business

** Zudio still has potential to gain market share with a low competitive risk and the scale up of any new competitor likely to be gradual and not disruptive - Goldman Sachs

** Adds that unit economics of online-only value fashion retail is weak

** Goldman Sachs reiterates its "buy" rating on TREN with a PT of 8,300 rupees

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Kotak double downgrades apparel retailer Trent TREN.NS to "sell" from "add"

** After stock more than doubled in value in 2023 and 2024, TREN down ~13% so far in Jan

** Says future growth priced in and "may be time to book profits"

** Kotak's analysis of top 10 cities by store count for co's Zudio chain reveals stores are in similar locations and could cannibalize each other

** Adds, while co may still close year with ~180 store additions, incremental rev per store growth may be slow

** Trims FY2025-27E rev by 1%-2% and EPS by 9%-14%

** Lowers stock's fair value to 5,850 rupees from 6,800 rupees, 5.8% below last close

** Trent up 0.7% at 6,255 rupees on Friday

** Stock rated "buy" on avg, peer Aditya Birla Fashion and Retail ADIA.NS "sell", V-Mart Retail VMAR.NS "buy" - LSEG data

(Reporting by Ananta Agarwal in Bengaluru)

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** Shares of Tata Group-owned Trent TREN.NS rise 4.8% to 6,453.1 rupees, eyes best one-day pct gain since Oct. 8

** TREN top gainer on benchmark Nifty 50 index .NSEI, which is up 0.22%

** Elara Capital initiates coverage on TREN with "buy" rating, sets PT of 8,500 rupees ($98.30)

** Expects TREN brand Zudio to continue to be largest player in fast fashion and grow ahead of the industry - Elara

** Adds, differentiated product offerings, full reliance on private labels key pull for Zudio

** Estimates 27% revenue CAGR over FY24-FY28

** 18 analysts covering the stock on avg have a "buy" rating; median PT is 6,900 rupees - data compiled by LSEG

** Trent, which surged over two-fold in 2024, is set to report Q3 results in Feb

($1 = 86.4710 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of Trent Ltd TREN.NS drop 4.3% to 6,300 rupees

** Fashion retailer and grocer down for 7th straight session, dropping 14% in that period, its longest losing run since May 2022

** Reuters could not immediately verify reason for day's move

** Stock biggest percentage loser on Nifty 50 .NSEI index that is down 0.9% currently and has dropped in five of last seven sessions

** Analysts expect TREN to report lower margins in Q3, with Jefferies highlighting moderation in demand environment

** TREN rated "buy" on avg by analysts tracking stock vs "hold" for Shoppers Stop SHOP.NS and "sell" for Aditya Birla Fashion ADIA.NS - data compiled by LSEG

(Reporting by Nandan Mandayam in Bengaluru)

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** Shares of Trent Ltd TREN.NS are up 1.8% at 6,412 rupees

** More than 1.3 mln shares of the clothing retailer changed hands in block deals at a 2.75% premium on co's last closing price, NSE data shows

** Total value of the deals at 8.43 billion rupees ($99.9 million)

** Stock among top five gainers on the benchmark Nifty 50 index.NSEI, which is 0.1% up

** TREN has doubled so far in 2024

($1 = 84.4200 Indian rupees)

(Reporting by Nishit Navin)

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** Clothing retailer Trent's shares TREN.NS drop 2.3%, most on benchmark Nifty 50 .NSEI

** Trent's Q2 rev growth slowest in 14 quarters

** Jefferies notes 16 Zudio stores shut in Q2 (vs 10 in full FY24) and second straight quarter of net decline in Westside stores

** Centrum Broking says rising competition, weakening demand remain concerns; chop FY25/FY26 profit estimates by 19.2%/21.4%

** Still avg rating of 18 analysts is equivalent of "buy" -LSEG data

** With only one PT cut, per LSEG data, median PT is 6,616 rupees vs current price of 6,361 rupees

** TREN is down for the fifth consecutive session

** It has shed 11% so far this week, set to be its worst since Jan 2022

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of Trent TREN.NS slides 5.7%, extending losses of 0.4% ahead of Q2 results

** Clothing retailer's Q2 consol rev from ops climbs 39.4% Y/Y, its slowest rev growth since Q4 2021

** Q2 consol net profit climbs ~47% Y/Y

** Stock second-biggest pct loser on benchmark Nifty 50 .NSEI, which is down 1%

** Trading volume 1.2x the 30-day moving avg

** Avg rating on TREN at "buy" while rival Shoppers Stop SHOP.NS rated "hold" - LSEG data

** TREN has more than doubled YTD, while SHOP has lost ~5%

(Reporting by Kashish Tandon in Bengaluru)

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Oct 9 (Reuters) - Trent Ltd TREN.NS:

• TRENT - CLARIFICATION ON MEDIA REPORTS ON ZUDIO BEAUTY

• TRENT - BPC CATEGORY PORTFOLIO IS EXTENDED THROUGH SELECT ZUDIO BEAUTY STORES ON A PILOT BASIS

Further company coverage: TREN.NS

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** Shares of Trent Ltd TREN.NS rise as much as 7.4% to a record high of 7,999 rupees

** TREN's fast-growing fashion retailer Zudio is foraying into mass-priced beauty products, The Economic Times reported, citing two executives aware of the development

** Morgan Stanley maintains the food and fashion retailer's stock rating at "overweight" and a PT of 8,032 rupees – the third highest on Street

** Brokerage notes Trent's beauty and personal care business has built scale, while commenting on a

** Analysts tracking TREN rate it "buy" on avg vs "hold" for DMart operator Avenue Supermarts AVEU.NS and "sell" for Aditya Birla Fashion and Retail ADIA.NS - LSEG data

** TREN stock up 2.6x YTD vs ADIA's 49% rise and AVEU's ~11% growth

(Reporting by Nandan Mandayam in Bengaluru)

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** Bernstein starts coverage of supermarkets operator Dmart AVEU.NS, fashion retailer Trent TREN.NS, Jubilant FoodWorks JUBI.NS, Devyani International DEVY.NS with "Outperform"

** Says Dmart has "clear value positioning"; Trent benefiting from private label portfolio

** Dominos India franchisee Jubilant and KFC India operator Devyani to see boost from revival in fast food demand, menu innovation, expansion

** Consumers beyond the top 10% of income pyramid and outside the top 40 cities to boost retail, restaurant sectors: Bernstein

** Brokerage however rates fashion retailer Aditya Birla Fashion & Retail ADIA.NS and McDonald's operator Westlife Foodworld WEST.NS "Underperform"

** Rigid cost structure to weigh on WEST profitability; debt overhang and weak growth in legacy brands to hurt ADIA - brokerage

** Starts Pizza Hut operator Sapphire Foods SAPI.NS with "Marketperform", citing high valuations

** FMCG index .NIFTYFMCG is up 10.14% in 2024, underperforming the 15.3% rise in Nifty 50 .NSEI

** TREN up 6%, DEVY up 1.2% while AVEU is trading 0.2% lower; ADIA, JUBI, WEST, SAPI down 0.3%-1.6% - Exchange data

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

** Shares of fashion retailer Trent TREN.NS climb ~3% to a record high of 6,750 rupees

** Stock on track for third straight session of gains

** Reuters could not immediately ascertain a reason for the stock move

** TREN reported two-fold jump in Q1 profit on August 9; stock hit record high then

** Trent's Q1 results an outlier among apparel retailers, says Morgan Stanley

** TREN only company among consumer retailers which has not seen downward revision in earnings estimates in last three months, says Morgan Stanley

** Analysts' avg rating on TREN, rival Shoppers Stop SHOP.NS at "hold", while Nykaa FSNE.NS rated "buy" - LSEG data

** TREN records more than two-fold YTD climb, while FSNE and SHOP gain 11% and 12%, respectively

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of apparels retailer Trent TREN.NS up as much as 2.5% to a record high of 6,434 rupees, extending gains from last session post Q1 results

** Stock has risen ~13% in the two sessions, at current price

** Brokerage Morgan Stanley upgrades to "Overweight" on improved profitability from Zudio stores, led by scaling benefits

** Hikes PT to 7,400 rupees from 4,812 rupees - implying a 17% upside

** Adds co continues to outperform peers, expect fashion segment to report 46% revenue growth in FY25

** Over 1.8 mln shares traded of TREN, 2.1x the 30-day avg

** At least 8 brokerages hike PT on stock post results, per LSEG data

** Analysts' avg rating on stock is "Hold", median PT is 5,750 rupees

** Stock last up 1.6%, adding to YTD gains of ~109%

(Reporting by Manvi Pant in Bengaluru)

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BENGALURU, Aug 9 (Reuters) - Indian retailer Trent TREN.NS reported a two-fold jump in first-quarter profit on Friday, boosted by demand at its cheaper Zudio outlets, which cater to budget-conscious consumers.

The retailer's shares jumped 10% to a record high after the results.

The Tata Group-owned company's consolidated net profit rose to 3.93 billion rupees ($47 million) for the quarter ended June 30, from 1.74 billion rupees a year earlier.

This is the company's ninth consecutive rise in quarterly profit.

Trent has been steadily expanding its youth-focused and low-priced brand Zudio, opening sixteen new outlets during the quarter and six new Westside stores, its more premium brand.

The company had a total of 559 Zudio stores 228 Westside stores, as of June 30.

This resulted in its fashion stores registering double-digit like-for-like sales during the quarter, it said.

India's retail sector continues to see fast paced growth, with analysts expecting the industry to be valued at around $4.5 trillion by 2035.

The company also runs Star supermarket stores, which are operated by Trent Hypermarket and British retail major Tesco.

Trent's revenue rose more than 56% to 41.04 billion rupees in the April-June period, its thirteenth straight quarter of revenue growth.

Its operating earnings before interest and tax (EBIT) margin expanded to 10.6% from 7.8% a year ago.

($1 = 83.8940 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Sonia Cheema)

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June 21 (Reuters) - Divi's Laboratories Ltd DIVI.NS:

• NSE CIRCULAR: DIVI'S LABORATORIES AND TRENT LTD NOT AVAILABLE FOR TRADING IN T+0 ROLLING SETTLEMENT CYCLE ON JUNE 24

Source text for Eikon: [ID:]

Further company coverage: DIVI.NS

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NEW DELHI, May 4 (Reuters) - India's Avenue Supermarts AVEU.NS, which operates the DMart chain of retail stores, reported a 22.4% rise in fourth-quarter profit on Saturday helped by rising footfall in its stores that sell groceries and apparel below the maximum retail price.

The retailer, known for discounts on everything from food to clothes, reported a consolidated net profit of 5.63 billion rupees ($67.5 million) for the quarter ended March 31, up from 4.60 billion rupees a year ago.

Consolidated sales increased 20% in the fourth quarter, compared with 17.3% in the prior quarter, helping to boost the retailer's bottom line.

Its provision of products at affordable prices has attracted inflation-weary consumers.

The Mumbai-based company's earnings before interest, taxes, depreciation and amortization (EBITDA) margin rose to 7.4% in the quarter from 7.3% in the year-ago period.

DMart's consolidated revenue rose to 127.27 billion rupees from 105.94 billion rupees in the year-ago quarter.

During the fourth quarter, DMart opened 24 stores across the country, and had a total of 365 stores as of March 31.

Shares of Avenue Supermarts rose about 11% during the March quarter; it closed 0.2% higher on Friday.

(Reporting by Arpan Chaturvedi; editing by Giles Elgood)

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** Shares of Trent TREN.NS jump 6.5% to record high of 4,621 rupees

** Stock posts best intra-day pct gain since Feb 8

** Tata-owned retailer's Q4 profit before items and tax surges five-fold on strong margins, while revenue jumps 51%

** Kotak Institutionl Equities says superior merchandising and value proposition to customers driving growth, which continues to defy overall weakness in discretionary spending

** Kotak raises fair value to 4,600 rupees from 3,800 rupees, maintains "add"

** At least 7 of 16 analysts raise PT, pushing up median PT to 4,150 rupees from 3,818.50 rupees in March -LSEG data

** Stock up 51% YTD vs 7.3% gains in Nifty 100 .NIFTY100

(Reporting by Sethuraman NR in Bengaluru)

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