Why Textile Co Trident is Up 53% in January 2021

  • Investing.com
  • Stock Market News
Why Textile Co Trident is Up 53% in January 2021
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- Trident Ltd (NS: TRIE ) isn’t a name that would be on the lips of every investor. However, this mid-cap textile maker, the flagship company of the Trident Group, headquartered in Ludhiana, Punjab, has seen a move of 53% in its share price in January 2021.

The company’s share price has largely been stagnant throughout 2020. However, January has seen a major movement in the stock because of two reasons. The first one was because Trident secured a patent in Europe for producing fabric (soft towels) through special treatment. 

Trident said, this will help it to deliver its special soft towels without using -chemical-based fibers and will save the environment, and deliver its soft luxury towels in Europe. 

Trident then reported its figures for the third quarter of FY 2021 ended December 31, 2020. Consolidate net profit zoomed 200% to Rs 112 crore compared to Rs 37 crore in the corresponding quarter of 2019. 

Consolidated revenue from operations rose 20% to Rs 1,303 crore compared to Rs 1,082 crore in the same period in December 2019.

The stock is now trading at Rs 15.2, up over 53% from its closing price of Rs 9.9 on December 31, 2020.

 

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
  • Arpan Jain @Arpan Jain
    it has potential to go up to 58 rs in short term
    Like 5
  • Nirav Samani @Nirav Samani
    Trident has the potential to appreciate 50% from current levels
    Like 7
  • gopal sharma @gopal sharma
    keep in protfolio
    Like 2
  • gopal sharma @gopal sharma
    keep in protfolio
    Like 1
  • Kranti Kumar @Kranti Kumar
    Good to invest it will reach 30 rs in February
    Like 7
  • showkath ali @showkath ali
    good
    Like 4
  • om prakash meena @om prakash meena
    thanks
    Like 2
  • Shraddha Deo @Shraddha Deo
    Useful info
    Like 2
  • Hollywood Spy @Hollywood Spy
    good afternoon
    Like 2
  • Tarun Chhabra @Tarun Chhabra
    Good information
    Like 4

Related Articles