Trident made a new lifetime high after strong Q2

Trident unveiled its Q2 result today, for the quarter ending September 30^th 2016. The company reported a 59 per cent growth in net profit at Rs 80.07 crore for the quarter ended September 30, 2016 (Q2FY17). The company occupied in textiles business had posted a profit of Rs 50.29 crore in the same quarter year ago.  Trident share price hit a new lifetime high of Rs 63.40, up 6 per cent on NSE in intra-day trade today.

Net sales during the second quarter of the financial year 2017 grew 30 per cent to Rs 1,148 crore against Rs 882 crore in the equivalent quarter of previous fiscal. EBITDA (earnings before interest, taxes, depreciation, and amortization) margin enhanced to 20.5% from 19.92% in previous financial year quarter.

Trident said that the board permitted the issuance of commercial papers up to Rs 200 crore and certified financial management committee to discuss and finalize the terms thereof and issue commercial papers in one or more tranches.

At 2:23 pm, Trident share price was up 1.92 per cent at Rs 61.15, against 0.41 per cent decline in the Benchmark Index Nifty and 0.55 per cent decline in BSE S&P Sensex. So far 1 crore 15 thousand shares have changed hands over the NSE trading counter against the twenty days trading volume average of 17 lakh shares.

The stock’s one month return stands at 9.89%. The consolidated PE ratio of the company for FY 16-17 stands at Rs. 13.35 while the standalone PE ratio is 13.38. The standalone training PE ratio of the company is reported to be at 12.44. The book value of the stock is 33.74 and the market capital of the company is valued at 3057.48 crores as on 21^st October 2016. Trident is the top 500 stock for the quarter as identified by Dynamic Levels. For the levels of support and resistance of trident, visit Trident share price forecast page of Dynamic Levels website.