Trent share price: Why is this Tata group stock rising despite the stock market crash? EXPLAINED
Trent share price in focus today: Shares of Tata Group's retail arm, Trent, rose 3% on June 23 to hit a five-month high of ₹ 6,078 apiece, outperforming a weak broader market as the stock was officially included in the BSE Sensex today, a move expected to trigger $330 million in passive inflows, about 5.8 times its average daily volume (ADV), according to Nuvama Alternative & Quantitative Research.
The Tata Group stock has been buzzing of late on Dalal Street, despite the Indian stock market being under pressure amid rising tensions in the Middle East, as the conflict between Iran and Israel deepens.
Optimism surrounding the stock was fueled by the company's continued commitment to its long-term target of achieving 25% annual growth, with a focus on value fashion brand Zudio, expansion into micro-markets, and entry into new categories, the the retailer told analysts at its investor day on June 18.
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