Somebody’s loss has always been somebody’s gain. In Trident’s case, the company has benefitted from the loss of Welspun. After the fall of Terry Towel giant, Trident share price has gone up by almost 8%. The company is likely to take the crown since the return of Welspun is quite improbable in near future.
Also, after declaring the quarter result on 8th of August 2016, Trident share price rose steeply by six points. The stock has held its position since then. The other steep rise in the graph is of today’s date where the stock went up from Rs. 46 on 24th to Rs. 49 on 25th August. Trident Limited is the flagship company of Trident Group which is the USD 1 billion Indian conglomerate.
Trident had declared the 26.1% increase in the standalone net profit for June quarter. The top line grew by 30%, and so did the earnings. The rise was on the back of strong volume take-off in the home textile segment. Trident is focused on marketing and optimally utilizing the Global Scale Capacities for the next two years.
Trident is also motivated after receiving two awards namely, Supplier Achievement in Excitement 2016 from SAM’s Club’s the USA and Best Quality Awards for 2016 from Sears Holdings. The stock is the Multibagger pick of the month by Dynamic Levels. The scrip opened at Rs. 46.45 and was currently trading at Rs. 49.25. Its previous close has been around its closest support level. For the details of Resistance and support levels of Trident, Visit Trident share price forecast page of Dynamic Levels website.
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