India's Trent rises 2.5%; ICICI Securities names co "top pick"

Go Fashion (India)

27/03/2023 08:46

** Shares of Trent  TREN.NS  rise as much as 2.5%, most
intraday gain in over six weeks since Feb. 9, to 1342.85 rupees
    ** Rise after brokerage firm ICICI Securities picked TREN as
top pick in apparel retail sector from a near-term perspective
    ** Tier 1 and Tier 2 cities are outperforming, says ICICI
Securities and adds south and western regions are less impacted
by inflation and slowdown in discretionary consumption
    ** Expects strong performance from Trent, Go Fashion
 GOFA.NS  and Vedant Fashions  VEDN.NS  and moderate performance
from Arvind Fashions  ARVF.NS , Shoppers Stop  SHOP.NS  
    ** Rural regions likely to underperform in Q4FY2023,
according to ICICI Securities, which flagged unexpected
irrational competition due to deceleration in consumption as a
key risk
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))