Trent up 2.2% on acquiring entire stake in Landmark

Trent, a retail operations company that owns and manages a number of retail chains in India, gained on Tuesday after it announced that the company will buy back the entire stake of private equity firm TVS Shriram Growth Fund in bookstore chain Landmark for Rs 840 million.

Trent said its board of directors on Monday approved a plan to buy TVS Shriram Growth Fund's entire holding of 1.82 million shares in Landmark.

Shares ofthe comapnyare trading at Rs 1,170, up Rs 24.8, or 2.17% at the Bombay Stock Exchange (BSE) on Tuesday at 10:53 a.m.The scrip has touched an intra-day high of Rs 1,180 and low of Rs 1,160. The total volume of shares traded at the BSE is 1,004.In the earlier session, the shares declined 1.13%, or Rs 13.1, at Rs 1,145.20.Currently, the stock is trading down 13.01% from its 52-week high of Rs 1,345 and above 51.75% over the 52-week low of Rs 771.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 1,126.70 18.50 1.64 1 Month 1,193.25 (48.05) (4.03) 3 Months 1,151.55 (6.35) (0.55) 6 Months 1,060.20 85.00 8.02 1 Year 929.85 215.35 23.16 Note: Based on previous day closing price.