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.

Trident gains on the Ratings from CARE and CRISIL

The rating agencies Credit Analysis & Research Ltd (CARE) and CRISIL upgraded the long-term and short term bank facilities of the Trident. On the upgradation Trident share price has rallied 6% to Rs 61.20 on NSE in intra-day trade, extending its Friday’s 6% gain.

CARE said in a release that the revision in ratings allocated to the bank facilities of Trident factors in the strong business performance that mirrored increasing profitability, healthy cash flows leading to adequate liquidity and improvement in its debts coverage parameters.

The upgrade mirrors CRISIL's conviction that Trident's business risk profile in the home textile business will get better over the medium term driven by increase in the utilization of the towels and newly established bed linen facility, as the risks related with project implementation have now subsided.

Meanwhile at 12:11 PM, Trident share price is trading at Rs. 59.20, up by over 3% aginst 0.67% decline in the Benchmark Index Nifty and 0.37% decline in BSE S&P Sensex

CRISIL believes that the home textile business growth together with stable contributions from the paper and yarn segments will lead to a strong revenue growth of over 20% in the financial year 2017 and at 10­15% per annum over the medium term. The  benefits  of  increasing  the scale  of operations, highly integrated manufacturing process in both home textiles and  paper, and sustained access to low-cost raw material for paper division will guarantee healthy  and  sustained operating profitability at 19­20% in the medium term.

The stock opened at Rs. 58 against its previous close price of Rs. 57.40. By 12:13 PM, Trident share price has traded on the intraday high of Rs. 61.25. The opening price of the scrip remained its intraday low. So far, almost 42 lakhs shares had changed hands over the NSE counter today. Trident is the top 500 stock pick of the quarter by Dynamic Levels. For the details on Trident, visit Trident share price history page of Dynamic Levels website.

Trident Gets Green Nod For Paper Mill Expansion Project

Trident has received a green nod or environment clearance for expansion of its paper mill with improved and enhanced technology and energy efficiency in Barnala district of Punjab, entailing a cost of Rs.440 cr. 

The company has proposed upgradation of paper machines to enhance production of paper from 1,35,000 TPA - tonnes per annum to 2,10,000 TPA and enhance captive co-generation plant to 90.9 MW from 45.9 MW. 

A senior government official said that based on the recommendations of the EAC - Expert Appraisal Committee, the Environment Ministry has given a green nod to the Trident Limited for its paper mill expansion project. The official added that the clearance to the project had been given subject to certain conditions.  

The project’s cost is estimated to be Rs.440 cr. No additional land would be needed and the company is likely to employ a hundred people. Besides, Trident, which was established in 1993, has both a textile mill and a sulphuric acid plant. The Trident group is a 1 billion US dollars enterprise with an employee count of over 10,000 and offers indirect employment to 20,000 people. 

Meanwhile, Trident share price was trading 4.96 per cent higher at Rs.59.25 on NSE today. The stock opened at Rs.57.65 from a previous closing of Rs.56.45. As of now, a total of 67,74,623 shares have exchanged hands on the NSE counter.

Trident at a glance: 

Trident Limited, incorporated in 1990, continues to grow under the dynamic leadership of Mr. Rajinder Gupta, the chairman, a first generation entrepreneur. With a humble beginning of 17,280 spindles of yarns, the company today exports to more than 100 countries emerging as one of the biggest integrated home textile manufacturer across the globe. 

To acquire information on the fundamentals, financials, and support and resistance levels of the stock, please visit Trident share price history.  

Trident gains on the Giants Fall

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.

Trident share price shoots up ahead of Q1 results

Trident share price shot up on NSE today ahead of Q1 results to be published on 7th August, 2016. The stock witnessed a rise of 8% in the morning trade on NSE and its volume traded on the counter stood at 13,19,344 shares. The scrip opened at Rs. 42.70 from a previous closing of Rs.42.15. Currently, the day’s high stands at Rs.46 while the day’s low reads at Rs.42.25.Currently, the stock is trading 7.12% higher at Rs. 45.15.

Trident share price performance:

Trident is among the Multibagger Shares, out of the Top 500 Shares recognized by Dynamic Research analysts for this month. The scrip can be an awesome investment opportunity and can give you high returns. It is a well analyzed Multibagger Stock, based on technical and fundamental research. The stock is traded in real high volumes.

The 52 week high of the Trident share price is seen at Rs.62 (3^rd Dec ’15) while the 52 week low is noted at Rs. 29.06 (8th Sep ’16). The stock has a market cap amounting to Rs.2147.61 (Cr) while its book value stands at 28.58. The major resistance and support levels for the stock stands at Rs.47.10 & Rs.40.30, respectively.

Trident Limited - At a glance:

Trident Limited, the flagship company of the Trident group has its customer base in over 100 countries across six continents. The flagship is the world's biggest wheat straw based paper manufacturer. Trident ranks among the largest yarn spinners in the nation. It is among the world's largest terry towel producers.For more details visit Trident share price history.