Trent Shares Surge 6% After Q4 Business Update, Leads Nifty 50 Gainers

Trent Shares Rally Up to 6% on Q4 Business Update

Trent, a fashion retailer operating apparel brands like Westside and Zudio, saw its shares rally up to 6% in early trade on Monday, April 6, following the March quarter (Q4) business update. The Tata group stock edged higher for the third day in a row, gaining a cumulative 13% during this period, making it the best Nifty 50 gainer in today's trading session.

The Trent share price rose as much as 5.8% to ₹3,759 even as the benchmark Nifty 50 traded marginally lower. The company's Q4 business update revealed a 20% year-on-year (YoY) growth in standalone revenue to ₹4,937 crore in Q4 FY26 from ₹4,106 crore in the same period a year ago.

Revenue Growth Highlights

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The growth matched the same pace as in Q1 after moderating during Q2 and Q3 and weighing heavily on Trent shares. However, the overall standalone figure was lower than ₹5,220 crore revenue posted in the preceding quarter of the ongoing fiscal year. Revenue from the sale of merchandise, excluding other operating income, rose by 21%.

For the full financial year (2025-26), Trent's revenue was higher by 18% YoY at ₹19,701 crore. As of 31st March 2026, the company's portfolio includes 1286 stores, comprising 300 Westside, 963 Zudio (including 6 in the UAE) and 23 stores across other lifestyle concepts.

Brokerage Views

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Brokerage ICICI Securities has modelled revenue/EBITDA/PAT CAGR of 18%/22%/14% over FY25–28E. It maintained 'ADD' with an unchanged target price of ₹4,100, as per SoTP valuation. Motilal Oswal Financial Services also retained a 'Buy' rating with a revised target price of ₹4,350 (earlier ₹5,200), premised on ~40x FY28E pre-IND AS EBITDA.

On the technical front, too, Trent shares are showing signs of recovery. After a steep 47% correction over 41 weeks, Trent is showing early signs of structural recovery, backed by improving business momentum. Price has precisely tested the rising 10-week EMA near ₹3750, a key dynamic support, and witnessed a strong rebound — indicating demand absorption at lower levels.