Trent moves up on executing Joint Venture Agreement with MAS Amity
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Trent is currently trading at Rs. 1186.00, up by 3.80 points or 0.32% from its previous closing of Rs. 1182.20 on the BSE.
The scrip opened at Rs. 1205.95 and has touched a high and low of Rs. 1205.95 and Rs. 1161.30 respectively. So far 5851 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1571.00 on 02-Nov-2022 and a 52 week low of Rs. 983.70 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 1234.90 and Rs. 1161.30 respectively. The current market cap of the company is Rs. 41732.45 crore.
The promoters holding in the company stood at 37.01%, while Institutions and Non-Institutions held 40.86% and 22.13% respectively.
Trent has executed Joint Venture (JV) Agreement with MAS Amity for incorporation of a Private Company in India for undertaking business of design, development and manufacture of intimate apparel and apparel related products. The Company will hold 50% of the paid-up equity share capital of the proposed joint venture company.
The Parties have become equal shareholders of the joint venture company for undertaking the business of design, development and manufacture of apparel and apparel related products including but not limited to intimate wear as listed in the Agreement wherein the Parties will use their respective skills, expertise and resources.
Over time, Trent and MAS would pool their domain expertise to undertake design, development and manufacturing of a range of intimate wear and other apparel products. Initially, the joint venture would facilitate design and sourcing of related products.
Trent is engaged in the retail sale of readymade garments.
