Trident Group Share Price Increased And Once Again It Set 52Week High
Trident Share has continually gained attention and importance in 2024. The share price of Trident has increased by 33% in the last six trading sessions in the year 2024. On Tuesday, it gained for the seventh continuous day.
As of January 9th, Trident Group is a publicly traded company with its stock listed on the BSE and NSE. The trading day for Trident began with an opening price of ₹51.40 and concluded with a closing price of ₹49.65. Throughout the day, the stock experienced fluctuations, reaching a high of ₹52.85 and a low of ₹41.91.
Trident's market capitalisation, which represents the total market value of its outstanding shares, is reported to be ₹25,255.56 crore as of the mentioned date. This figure is calculated by multiplying the current stock price by the total number of outstanding shares.
The 52-week high and low for Trident's stock are ₹52.85 and ₹25.10, respectively. These values represent the highest and lowest prices at which the stock has traded over the past 52 weeks, providing a historical context for the stock's recent performance.
In terms of trading activity on the BSE, Trident recorded a substantial trading volume of 4,77,75,571 shares. Trading volume indicates the total number of shares bought and sold during a given period and is a key metric for assessing the liquidity and interest in a particular stock.
Trident's announcement on December 29th on its capacity upgrades has been the main driver behind the spike in share prices. This has increased investor confidence in the projected profit trajectory.
Trident said that it has increased the capacity of its Yarn Business in Budhni, Madhya Pradesh, starting from December 29, 2023.
The Budhni production unit has 589,248 shafts, 7,464 rotors, and 160 air jets that can make yarn right now. According to the most current report, 82% of the total capacity was being used. Trident announced that it had added an extra 189,696 spindles, which were paid for by investments worth a total of ₹830 Crores. The money for the capacity increases came from a mix of term loans and internal accruals, as explained in the official statement.
A company called Trident Ltd is fully integrated and has its headquarters in Ludhiana, Punjab. It makes yarn, fabric for beds and baths, and paper products from wheat waste. The company is known for its wide range of businesses, which include making yarns, towels, bed sheets, and paper. Trident is mostly involved in four main business areas: yarn, home textiles, paper, and chemicals. Its factories are in Punjab and Madhya Pradesh.