Trent shares plunge 9% on Nuvama downgrade: 3 crucial concerns now – Market News
Nuvama slashed the target price on Trent by 11.2% to Rs 5,884 from Rs 6,627 on the back of a slowdown in its core business’s growth. The brokerage house downgraded the stock to a ‘Hold’ rating from ‘Buy’. Following this, Trent’s share price plunged as much as 8.7% to an intra-day low of Rs 5,652 on the National Stock Exchange, commanding the seat of the major loser in the Nifty 50.
Nuvama on Trent: Disappointment in growth
“At its Annual General Meeting (AGM), Trent disappointed on near-term growth expectations in its core fashion business, which is expected to deliver 20% growth in Q1 FY26, sharply down from its five-year CAGR of 35% (FY20–25),” said Nuvama.
Trent’s management reaffirmed their aspiration…
