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The share price of Trident Ltd fell by 2.5% on the BSE today, to close at Rs 36.55. The stock was trading in the range of Rs 36.50 to Rs 37.50 during the day.
The decline in the share price of Trident came after a report by brokerage firm Motilal Oswal Securities, which advised caution on the stock. Motilal Oswal Securities said that the company’s near-term earnings growth is likely to be muted due to the ongoing cotton price volatility. The brokerage firm also said that the company’s margins are likely to be under pressure due to rising input costs.
However, Motilal Oswal Securities said that Trident is a well-managed company with a strong track record. The brokerage firm has a “buy” rating on the stock with a target price of Rs 42.
Other brokerage firms have also advised caution on the stock. ICICI Securities has a “hold” rating on the stock with a target price of Rs 38. HDFC Securities has a “reduce” rating on the stock with a target price of Rs 35.
The decline in the share price of Trident is a reminder of the risks associated with investing in textile stocks. The textile industry is cyclical and is susceptible to changes in the global cotton market. Investors should carefully evaluate the risks before investing in Trident or any other textile stock.
Here are some of the key takeaways from the news:
- Trident share price fell by 2.5% on the BSE today.
- The stock was trading in the range of Rs 36.50 to Rs 37.50 during the day.
- The decline in the share price came after a report by brokerage firm Motilal Oswal Securities.
- Motilal Oswal Securities advised caution on the stock due to the ongoing cotton price volatility and rising input costs.
- Other brokerage firms have also advised caution on the stock.
- The decline in the share price is a reminder of the risks associated with investing in textile stocks.
I hope this helps!
