Trident Limited saw its shares rise on Wednesday, April 12, following a 15 percent month-on-month growth in the production volume of its home textile and paper and chemical divisions.
The stock, which closed 8 percent higher during Tuesday’s trade, surged 4.3 percent on Wednesday, extending its gains into the second consecutive day.
During Wednesday’s trade, the stock opened at a price of Rs. 32.60 per share, closely against the previous close of Rs. 32 per share and grew further during the early trading session to touch an intraday high of Rs. 33.40. It was trading at ₹32.60 apiece, up by 1.87 percent, at 11:10 a.m. on the NSE.
The stock touched a 52-week high of Rs. 56.50 on April 18, 2022 and a 52-week low of Rs. 25.05 on March 27, 2023, indicating that at the current level, the stock is trading 29 percent above its 52-week low and 42.3 percent below its 52-week high.
The stock has grown nearly 9 percent in the last one month. However, in the past six months, it has declined by over 10 percent. Furthermore, the stock has yielded a return of almost 350 percent in the last five years.
The textile company reported a 7 percent month-on-month production rise in bath linen, a 13 percent increase in bed linen, and a 15 percent rise in yarn output in March, according to its monthly production update.
The production of bath linen declined by 2 percent year-on-year in March, while yarn output dropped 12 percent compared to the same period last year. On the other hand, bed linen production rose 8 percent over the same period.
In the paper and chemical division, paper output rose 1 percent month-on-month to 12,010 metric tonnes and chemical output rose 12 percent to 9,378 metric tonnes in March compared to the output in February. On a yearly basis, paper output fell 12 percent while chemical output rose 2 percent in March over a year ago.
Trident Limited is an India-based company, which is engaged in manufacturing, trading, and selling textiles (yarn, terry towels & bedsheets) and paper & chemicals. The company operates through two segments: textiles and paper and chemicals. The textiles segment includes yarn, towel, bedsheets, and dyed yarn manufacturing (including utility service). The paper and chemical segment includes paper and sulfuric acid (including utility service).
