shed nearly 9 per cent and emerged as the biggest laggard on the Nifty 50, underperforming the broader market even as the Tata Group retailer posted healthy revenue growth for the December 2025 quarter.
The stock closed at ₹4,047.60 on the hitting an intraday low of ₹3,994 against the previous close of ₹4,429.80.
Its recent weakness has kept investor sentiment cautious, despite steady operational momentum and continued store expansion across formats.
Global brokerage firm Morgan Stanley has maintained its overweight rating on Trent with a price target of ₹5,456 per share. The brokerage said the company’s third-quarter standalone revenue growth was largely in line with its estimates, with store additions also broadly tracking expectations.
Trent reported standalone revenue of ₹5,220 crore in the third quarter of fiscal year 2026, marking a increase from ₹4,466 crore in the same period last year, according to a stock exchange filing on Monday evening. The revenue figures exclude GST following recent regulatory changes.
For the nine-month period ended December 2025, the company posted standalone revenue of ₹14,604 crore, up 18 per cent from ₹12,368 crore in the corresponding period of the previous fiscal year.
Morgan Stanley noted that Westside added a net 17 new stores during the quarter, in line with its estimates, while the Zudio format exceeded expectations with a higher-than-anticipated number of store openings. The brokerage added that in the first nine months of FY26, Westside added 30 net new stores, significantly above the average annual additions seen over FY23–FY25.
Overall analyst sentiment on Trent remains positive despite the recent stock underperformance. UBS is most bullish on the stock with a target price of ₹6,200, whille few other brokerages flagged concerns over valuation and near-term growth visibility.
While Trent’s shares continue to lag the benchmark index, brokerages remain divided on the near-term outlook, even as they acknowledge the company’s strong execution and long-term growth prospects driven by its expanding retail footprint.
SBI Securities in its report highlighted that revenue growth continues to moderate. However, overall reaction likely to be slightly negative on the stock today.