Trent shares tank 9%, the most in six months after Q3 update

Shares of Tata Group company Trent Ltd. declined as much as 9% on Tuesday, January 6, following the company's third quarter business update.

Trent reported a 17% growth in Q3 revenue at ₹5,220 crore, compared with ₹4,466 crore in the corresponding quarter last year. Revenue growth remained steady sequentially, matching the 17% growth reported in Q2 FY26, though it was lower than the pace seen in Q3 FY25, Q4 FY25 and Q1 FY26, respectively.

During the quarter, the company added 17 Westside stores and 48 Zudio stores.

Over the first nine months of FY26, Westside added a net 30 stores, higher than the average of 16 stores added annually between FY23 and FY25.

The Zudio format also exceeded expectations, with 48 net store additions in Q3, compared with an estimate of 39.

Brokerage firm Morgan Stanley has maintained an 'Overweight' rating on Trent, with a price target of ₹5,456 per share. The brokerage said Q3 standalone revenue growth was largely in line with its estimates, with store additions also broadly tracking expectations.

Of the 28 analysts tracking the stock, 18 have a 'Buy' rating, five recommend 'Hold', while five have a 'Sell' call on Trent. Highest target on the street is by UBS at ₹6,200. Lowest at ₹4,350 by Citi and Avendus Spark

Shares of Trent Ltd. ended Monday's session 0.17% higher at ₹4,417. The stock is down 41% so far in 2025.

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