SPY386.54-3.04 -0.78%
DIA314.19-1.40 -0.44%
IXIC13,358.79-230.04 -1.69%

DJ Trent Likely to Benefit From India's Macro Recovery -- Market Talk

· 02/07/2021 23:58

0458 GMT - Trent is likely to benefit from improving consumer sentiment and the opening-up of India's economy as macro conditions rebound, Jefferies says, raising the stock's rating to buy from hold and the target price to INR870 from INR700. The retail company's 3Q FY 2021 results mirrored broad consumption trends with a strong sequential recovery, and it had strong traction in January for full-priced merchandise in terms of quantity and value, a large positive. Its apparel retailing business is a strong top-down story with a formalized market, and is gaining market share, Jefferies says. Trent shares are 0.3% higher at INR688.90. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

February 07, 2021 23:58 ET (04:58 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.