Promoter of Trident buys over 1.23 Cr shares of the company; Check the details 

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Promoter of Trident buys over 1.23 Cr shares of the company; Check the details 
Credit: © Reuters.

Trident (NS: TRIE ) Limited, through a recent filing with BSE, provided an update regarding the company’s Employees Welfare Trust offloading equity shares in the company. As per data provided in the block deals section, the Trust sold 123,85,000 equity shares in Trident at a price of ₹25.75 per equity share which amounts to ₹31.89 crores.

In the same block deal, Madhuraj Foundation, one of the promoters of the company, purchased the same number of equity shares at the matching price.

The company started its trading session today at Rs 25.45 and currently trades at Rs 25.35. The scrip is trading flat today with an upside of around 0.6 percent in comparison to the previous closing price of Rs 25.25.

Trident Ltd is a terry towel and wheat straw-based manufacturer in India. The company, through its subsidiaries, operates in segments such as textiles & paper, and chemicals. The firm generates a majority of its revenue from the Textile segment.

The group offers a variety of products such as solid bath sets, beach towels, embroidered towels, bath mats, duvet covers, cushion covers, blended yarn, and Trident Natural brands. The company has a geographical presence domestically and across borders including the USA and the Rest of the world.

Digging into the financials, the company has observed a decent amount of growth in the revenues and net profits reported. Revenues have moved from Rs 1,438 crores in Q2 to Rs 1,641 crores in Q3. Moreover, the net profit figures have more than tripled on a QoQ basis by showing a movement from Rs 38 crores in Q2 to Rs 143 crores in Q3.

Apart from the parameters discussed above, the profitability ratios are on the rise with ROE figures moving from 9.57 percent in FY20-21 to 23.23 percent in FY21-22. Adding on, the ROCE figures have shown a movement from 9.55 percent in FY20-21 to 23.39 percent in FY21-22.

The debt to equity ratio shows a positive scenario with a consistent reduction in the numbers with the recent shift being from 0.46 during FY20-21 to 0.41 in FY21-22.

Written by Amit Madnani

The post Promoter of Trident buys over 1.23 Cr shares of the company; Check the details appeared first on Trade Brains.

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  • Asha Jadeja @Asha Jadeja
    i have 200 share @65/- hold or sale??
    Like 0
    • DASHARATH CHAUDHARI @DASHARATH CHAUDHARI
      Grab opportunity and buy more
      Like 1
    • Pravinchandra Ajudiya @Pravinchandra Ajudiya
      buy and average
      Like 0

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  • Vinay Choubey @Vinay Choubey
    i have one share at 10.
    Like 1
  • Rahul choudhary @Rahul choudhary
    I have a 1965 shares @38 rupe can I hold 2025 Target price 100/- shares
    Like 2
  • PRATIK MADTHA @PRATIK MADTHA
    I have 80 shares at 40 ruppess averaged
    Like 4
    • Saravana Kumar S T @Saravana Kumar S T
      still overvalued only. will fall further before upmove
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