Trent becomes 5th Tata Group company to breach Rs 1 lakh-crore market cap
Trent became the fifth stock among the listed Tata Group companies to cross a market capitalisation of Rs 1 lakh crore. Other group stocks with a market cap of over 1 lakh crore are Tata Consultancy Services (TCS), Titan, Tata Motors and Tata Steel.
At 2:45 pm, Trent's market cap stood at Rs 100,183.47 crore.
TCS occupies the top spot with a market cap of Rs 12.83 lakh crore followed by Titan at (Rs 3.10 lakh crore), Tata Motors (2.35 lakh crore) and Tata Steel (Rs 1.60 lakh crore).
Trent shares jumped nearly 2% to the day's high of Rs 2,837.40.
Trent has given multibagger returns of 109% in 2023, outperforming Nifty50 which has returned over 11% during this period. The last 12-month gains by this counter stand at 92%.
Trent is trading above its 50-day and 200-day simple moving averages (SMAs), according to Trendlyne.
The counter has remained unbeaten over the past four trading sessions and gained more than 7% during this period. The rally has taken it into a strongly overbought zone with the day's RSI and MFI at 88.8 and 92.2, Trendlyne data suggested.
Despite its strong moves over the last year, the stock has traded with considerable stability.
