Tata Group’s company Trent Limited started February in a tremendous manner. While its stocks were performing the worst in the Nifty 50 index in January, now it has become the fastest escape shares in February. On Saturday, its shares jumped more than 12.14%, which is the biggest one day after August 9, 2024. The company presented its June quarter results that day.
Budget gave new enthusiasm
The budget speech of Finance Minister Nirmala Sitharaman created a stir in the market. He announced that those with income up to Rs 12 lakh will not have to pay tax after exemption. This announcement has given tremendous advantage to other consumption stocks including Trent. The Nifty FMCG index also saw the biggest fast of the last seven months. Shares like Radico Khaitan have recorded a jump of up to 10%.
Trent’s tremendous comeback after January decline
In January, Trent’s shares fell by nearly 20%, the worst monthly performance after the March 2020 Covid-19 lockdown. But after the announcement of the budget, it is now moving towards a new height. According to Friday, Trent’s shares were below their 52 -week peak price ₹ 8,345 to 35%, but now the interest of investors has returned again. Today, the company’s shares on BSE rose 12.14% to close at Rs 6182.35.