Overview

• Nuvama Institutional Equities raised its target price to Rs 6,627 while maintaining a Buy rating and forecasting roughly 16% upside for Trent shares.
• Motilal Oswal upheld its Buy recommendation with a Rs 6,900 target, pointing to robust Zudio store additions and the potential scale-up of new categories such as beauty and lab-grown diamonds.
• Trent aims to sustain over 25% annual revenue and earnings growth through a multibrand, cluster-based approach focused on key micro-markets.
• The Zudio format remains the primary growth engine, and the Star initiative drives foot traffic through strict hygiene standards, technology integration and quality fresh offerings.
• Management reaffirms an owned-brand strategy and is taking a cautious stance on expanding smaller formats like Samoh and Zudio Beauty until their financial viability is proven.