Trent Shares Plunge 9% After Q3 Update, Largest Drop in Six Months

• Trent Ltd. shares plunged 9% on Tuesday, January 6, following its Q3 business update, marking the largest drop in six months.
• The company reported a 17% growth in Q3 revenue, reaching ₹5,220 crore, consistent sequentially but slower than previous quarters.
• Trent significantly expanded its retail presence by adding 17 Westside stores and 48 Zudio stores during the third quarter.
• Morgan Stanley maintained an 'Overweight' rating with a price target of ₹5,456, noting Q3 revenue was largely in line with estimates.
• Analyst sentiment is mixed, with 18 'Buy', 5 'Hold', and 5 'Sell' ratings, and target prices ranging from ₹4,350 to ₹6,200.

Why It Matters: Trent's Q3 revenue growth and store expansion couldn't prevent a significant 9% share price drop.