Stories
Trent Surges 11% While IDFC First Bank Slips on Q2 Updates
- •Trent shares jumped over 11% after reporting a 23% year-on-year rise in standalone revenue to 5,788 crore rupees for the second quarter.
- •Honasa Consumer shares climbed up to 7% driven by an upbeat guidance projecting net sales value growth in the early 30s.
- •HFCL shares gained 5% at market open, continuing a strong multi-fold upward trend over the past year.
- •IDFC First Bank shares dropped over 3% despite posting healthy deposit and loan growth figures for the quarter.
- •Jindal Steel and Sansera Engineering also declined at market open following recent quarterly updates.
Key Questions Answered
Trent shares rose more than 11% after reporting a 23% year-on-year increase in second-quarter standalone revenue, which reached ₹5,788 crore. The company also expanded its footprint by adding 10 new Westside stores and 17 new Zudio stores during the quarter.
Honasa Consumer shares rose up to 7% following its second-quarter business update, which projected net sales value growth in the early 30s year-on-year. Mamaearth was expected to deliver high-teens growth, while its newer brands accelerated to around the mid-40s.
IDFC First Bank shares fell over 3% at market open despite reporting that total deposits rose 17% year-on-year to ₹3.24 lakh crore and loans and advances grew 20.4% to ₹3.14 lakh crore. Its CASA ratio also improved to 51.3% from 50.1% a year earlier.
