Multibagger tracker! This BSE500 stock turned Rs 10,000 to nearly Rs 4 lakh in just 10 years (2024)

Shares of Trident Ltd have returned as much as nearly 3,600% in the past ten years. Accordingly, if an investor had invested Rs 10,000 in the stock 10 years ago and stayed put, the investment would have turned to nearly 4 lakh, according to an analysis by ET Markets.

In the last five years, the shares have surged 326% and jumped nearly 665% in the last three years.

Trident Ltd, which has a market capitalisation of about Rs 17,000 crore, manufactures textiles, paper, yarn, and chemicals. The company products include towels, printing paper from wheat straw, weaving and hosiery yarns, and sulphuric acid. The company derives most of its revenue from exports.

According to the shareholding pattern available with the exchanges, the company is majority owned by promoters at 73.19%, while public shareholders own the rest 25.56%.

Among the public shareholders, mutual funds and foreign investors don't own a significant stake, while retail investors have about 18% in the company.

The company has an EPS of 0.83 on a trailing twelve month (TTM) basis. The stock is currently trading at a PB of 4.56.

Over the last 10 years, Trident's revenue rose from just Rs 3,868 crore in FY14 to Rs 6,332 crore in FY23. Meanwhile, net profit more than doubled during the same period to Rs 441 crore.

For the fourth quarter ended March 2023, the company clocked a profit of Rs 116 crore, down nearly 50% from a year ago. Revenue from operations stood at Rs 1562 crore in the said quarter.

Technical outlook - What should investors do?

Analysts advised risky investors to consider buying the stock only above Rs 35 levels.

"If the stock trades above Rs 35, then, it can reach up to Rs 50 levels. In that situation keep a stop loss of 32. Also if any move below Rs 32, the price can fall upto Rs 24," said Vaibhav Kaushik, Research Analyst, GCL Broking.

"The counter is currently forming the right shoulder of an inverse head and shoulders formation, with the neckline resistance at Rs 36. If the price manages to break above this neckline resistance, it is expected to reach levels around Rs 40 in the near term. A cluster of moving averages has formed a base around the Rs 32.50 level," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart.

With data inputs from Ritesh Presswala

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Read More News on

(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price