Trident Shares Continued Gaining Streak For 2nd Consecutive Day

On December 10, 2024, Trident shares extended their gains for the 2nd consecutive day. The shares opened at ₹38.81 and reached a high of ₹40.17 by 10:05 AM. The upward momentum in Trident Ltd.’s shares followed an announcement by the company’s chairman, Shri Rajinder Gupta, regarding significant investment plans in Madhya Pradesh.

Investment Plans For Madhya Pradesh

Shri Rajinder Gupta participated in the Invest Madhya Pradesh: Regional Industry Conclave in Narmadapuram, where he had a one-on-one meeting with Dr. Mohan Yadav, the Hon’ble Chief Minister of Madhya Pradesh. They discussed potential investment opportunities and industrial expansion in the state’s textile sector.

In his address to the conclave, Shri Rajinder Gupta expressed his gratitude to the Madhya Pradesh government, he highlighted Trident’s remarkable journey in the state. “We ventured into Madhya Pradesh a few years ago and invested ₹5,000 crores. Today, our finished products from Madhya Pradesh are exported to 122 countries, with demand continually rising,” he shared.

Looking to the future, Shri Gupta announced that Trident Group plans to invest an additional ₹3,000 crores in the state’s textile sector. This investment is expected to create new employment opportunities, increasing the number of jobs at Trident Group from the current 12,000 to over 15,000.

“We are committed to ensuring that the benefits of our operations stay within Madhya Pradesh, from sourcing cotton to producing finished goods. The state is an ideal confluence of sustainability, inclusive growth, and green energy, with immense potential for solar and wind energy development,” Shri Gupta said. He also emphasized Trident’s focus on skill development and women empowerment, with 50% of new employment opportunities reserved for women.

Trident’s Financial Performance

During 1H FY25, the company’s total standalone income grew by 6.7%, reaching ₹3,470 crore, against ₹3,253 crore in 1H FY24. Revenue for Q2 FY25 from major segments amounted to ₹902 crore from Yarn, ₹980 crore from Home Textiles, and ₹233 crore from Paper & Chemicals. Bath Linen recorded a marginal improvement in profit margins.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.