Trent Delivers Strong Q2 Growth as Revenue Jumps 23%; Brokerages Differ on Outlook

Trent reported a stronger-than-expected Q2 business update, with standalone revenue rising 23% year-on-year to Rs 5,788 crore, marking an acceleration from the 16-20% growth seen over the previous five quarters. The Tata Group retailer added 21 stores during the quarter, taking its total store count to 1,342. While Morgan Stanley maintained its 'Overweight' rating, citing a strong quarter and highlighting margins as a key monitorable, Citi retained its 'Sell' call, cautioning about weak revenue-per-square-foot trends, increasing competition, and potential cannibalisation risks.