External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>In 9MFY26, Trent delivered ~18/21% revenue/PBT growth YoY (36bps PBTM expansion)</li><li>While SSSG remained subdued at low single digits, topline growth was primarily fueled by retail area expansion – Zudio added 89 stores (net) in 9MFY26 (average store size up ~11% YoY)</li><li>Westside accelerated expansion as well as added 30 stores (net) in 9MFY26 alone - surpassing its historical annual run rate of 14-18 stores over FY23-25 (average store size up ~10% YoY)</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

In 9MFY26, Trent delivered ~18/21% revenue/PBT growth YoY (36bps PBTM expansion)While SSSG remained subdued at low single digits, topline growth was primarily fueled by retail area expansion – Zudio added 89 stores (net) in 9MFY26 (average store size up ~11% YoY)Westside accelerated expansion as well as added 30 stores (net) in 9MFY26 alone - surpassing its historical annual run rate of 14-18 stores over FY23-25 (average store size up ~10% YoY)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Trent: Favorable Risk-Reward Ratio, Upgrade to BUY