TRENT

Share Price: Tata stock to 'Buy'; Brokerage upgrades share with nearly 24% upside from current level

Shares of Trent Ltd. are in focus after an institutional research firm upgraded the stock to ‘BUY’, setting a target price of Rs 4,300, which implies an upside of about 24 per cent from Friday’s closing price of Rs 3,476.70. The upgrade follows a sharp correction of over 30 per cent since early September and reflects improving growth visibility driven by aggressive store expansion and a potential revival in same‑store sales growth (SSSG). The brokerage has valued Trent using a sum‑of‑the‑parts (SOTP) approach, applying a 55 times FY28 price‑to‑earnings multiple for the standalone business and 2 times FY28 EV‑to‑sales for its Star business. The multiple has been revised down from 60 times to better align valuations with the broader discretionary retail universe, while still factoring in Trent’s long‑term growth prospects and brand strength. Operationally, Trent delivered robust performance in 9MFY26, posting around 18 per cent year‑on‑year revenue growth and 21 per cent growth in profit before tax, alongside a 36‑basis‑point expansion in PBT margins, the brokerage noted.