The Indian inventory market is house to a few of the greatest hidden gems corresponding to penny shares which have large development potential. Textile producer Trident’s shares are one such penny inventory that has delivered huge returns to its buyers over the past one yr, due to strong monetary efficiency and enterprise enlargement.
Shares of Trident have delivered 455% returns to its shareholders in a single yr, in distinction to over 20% development in benchmark indices, the BSE Sensex and the NSE Nifty, throughout the identical interval.
From ₹9 to ₹53: This penny inventory was a multibagger in a single yr
Trident share has witnessed a powerful rally within the final one yr and just lately it hit a 52-week excessive of ₹59.90 on November 29, 2021. The textile inventory has gained 383% for the reason that starting of this yr (year-to-date foundation) and climbed 213% over a six-month interval. Within the final one month, the inventory witnessed lackluster commerce and dropped marginally by 0.5%.
On Friday, Trident shares opened marginally greater at ₹53.20, towards the earlier shut value of ₹53.15 on the BSE. In the course of the first hour of commerce, the inventory hit an intraday excessive and low of ₹53.45 and ₹51.70, respectively. On the time of reporting, the inventory was buying and selling 2.2% decrease at ₹51.95 on the BSE, whereas the market capitalisation stood at ₹26,473.49 crore.
On the technical entrance, the inventory is at the moment in a bullish vary from mildly bullish on September 2, 2021, at ₹22.50. The shares have been transferring greater than 50-day, 100-day, and 200-day transferring averages, however decrease than 5-day and 20-day transferring averages.
Monetary and enterprise highlights
Trident is the flagship firm of Trident Group, a $3 billion Indian enterprise conglomerate. Headquartered in Ludhiana, it operates in two main enterprise segments – textiles and paper – with its manufacturing amenities positioned in Punjab and Madhya Pradesh.
On the monetary entrance, the corporate has reported constructive earnings over the past 4 consecutive quarters. For the second quarter ended September 30, 2021, the corporate reported consolidated revenue after tax of ₹234.59 crore, up 122% towards ₹105.69 crore throughout the earlier corresponding quarter. Consolidated gross sales rose 44% to ₹1,691.59 crore as towards ₹1,173.98 crore throughout the identical interval final yr.
The web debt of the corporate decreased considerably to ₹1,045.4 crore, down 15.1% on Q-o-Q foundation which confirmed its robust capability to service debt.
Boosted by robust earnings, the corporate introduced a 36% dividend (₹0.36 per absolutely paid-up fairness share of ₹1 every) for its shareholders.
Earlier this July this yr, the corporate commenced business manufacturing of yarn in a brand new spinning unit with a capability of 61,440 spindles and 480 rotors. It has additionally boosted its home market presence by launching a brand new e-commerce web site.
Just lately, it commissioned a 7.6MW Photo voltaic Energy Plant at Budhni, Madhya Pradesh as a part of its technique to make use of renewable and clear vitality for lowering carbon emission. The plant is predicted to provide 33,500 items per day to be consumed in Budhni manufacturing amenities.
Final month, the textile big introduced low cost reward voucher for its 15 lakh shareholders. Beneath this particular supply, legitimate from December 10 to till January 2, 2022, shareholders can avail ₹2,000 off on all its merchandise on a minimal buy of ₹5,000, and ₹4,000 off on order of ₹10,000 and above.