Trent shares surge 12% in just two sessions; what’s driving the rally in the retail stock?

Shares of Trent , the retail arm of the Tata Group, surged over 4% on Monday, extending their gaining streak for the second consecutive session after the company released its March quarter business update. The retail stock has risen over 12% in two sessions, in an otherwise weak broader market.

Shares of Trent, which owns brands such as Westside, Zudio, and Utsa, rose as much as 4.5% to ₹3,713.90 on the BSE, while its market capitalisation climbed to ₹1.31 lakh crore. The stock opened at ₹3,620.35, up 1.88%, after ending 7% higher at ₹3,553.50 on April 2.

Meanwhile, the equity benchmarks - Sensex and Nifty - opened in the red zone and dropped up to 0.4% in early trade.

In the calendar year 2026, Trent shares have fallen nearly 14%, while they have declined nearly 1% over the past month and over 22% in the last six months. The stock has also dropped more than 21% over the past year. It touched a 52-week high of ₹6,259 on June 30, 2025, and a 52-week low of ₹3,276.10 on March 30, 2026.

In an exchange filing this morning, Trent released its March quarter business update, with standalone revenue from operations (excluding GST) rising 20% year-on-year to ₹4,937 crore in Q4 FY26, compared with ₹4,106 crore in the year-ago period.

For the full year FY26, revenue grew 18% YoY to ₹19,701 crore from ₹16,668 crore in FY25, the release noted.

The company said revenue from the sale of merchandise, excluding other operating income, rose 21% during the quarter and 19% for the full year.

Store expansion remained a key growth driver, with the total portfolio reaching 1,286 stores as of March 31, 2026, including 300 Westside stores, 963 Zudio stores (including six in the UAE), and 23 stores across other lifestyle concepts.

During the January–March period, Westside added 22 stores in Q4 and 52 stores in FY26 on a net basis, while Zudio added 109 stores in Q4 and 198 stores over the full year, signalling the company’s aggressive expansion strategy, particularly in the value fashion segment.

For the third quarter of FY26, Trent posted standalone revenue of ₹5,220 crore, up from ₹4,466 crore a year ago, according to a regulatory filing. Revenue for the nine months ended December climbed 18% year-on-year to ₹14,604 crore. The company continued to expand aggressively, adding 17 Westside stores and 48 Zudio outlets on a net basis during the quarter, taking its total store count to 278 Westside and 854 Zudio stores, including four in the UAE.

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