The Hindu Business Line : Trent in vogue

Dealers said several FIIs are actively buying the shares of the company. One factor for buying the stock is company opening a new retail outlet in Ahmedabad, which will store household items. This would be the first of its kind stores by Trent.

Till now, Trent runs retail stores under `Westside' brand and sells mainly apparels and fashion wears.

The new store would open new growth for the company, which was not seen in the company in the past. Several market players are optimistic about the company prospects as the new stores are expected to show huge growth.

On Thursday, the stock price of Trent gained 11.98 per cent at Rs 513.75 on BSE with volume of 97232 shares and on NSE it closed at Rs 515.55, up 12.55 per cent with volume of 2.34 lakh shares.

On top gear

Even as most of two-wheeler companies stocks remained subdued on Thursday, the stock of motorcycle major Hero Honda Motors bucked the trend.

The stock price of the company gained 5.97 per cent at Rs 473.15 on BSE with volume of 4.11 lakh shares and on NSE it closed at Rs 473, up 5.91 per cent with volume of 14.43 lakh shares.

Dealers said several institutional investors bought the shares on Thursday.

The main factor for the buying was strong sales number the company is expected to report for this month. Talks are that sales of the company's motorcycles were excellent this month mainly due to Diwali festival. However, the number, which the company would show, would be substantially higher than seen in the previous festive seasons.

Catalysed by UN order

Small cap anti-AIDS kit manufacturer Monozyme India stock is witnessing sharp rise in the stock price. Its stock has already gained more than 100 per cent this month.

Dealers said the sharp rise in the stock price is on market talks of huge order the company has bagged from UN for supplying anti-aids kits for African countries.

However, the exact quantum of the order was not known. Even company officials were not available for comments.

But dealers said the order is huge and would change the financials of the company.

On Friday, the stock price of the company gained 5 per cent at Rs 25.91 on BSE with volume of 10700 shares.

Virendra Verma

More Stories on : Stock Markets | Ear to the ground

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Ramco Systems to issue shares on preferential basis

LIC Mutual launches outsourcing fund

HDFC AMC to unveil capital guard fund

Indecisive move

Shares move southward

Exide Industries mulls pvt placement

Trent in vogue

Textile stocks up and swinging

Govt can go ahead with probe into Ketan Parekh entities