Stock Report

Trent Ltd inks JV agreement with MAS Amity Pte Ltd

Posted On : 2023-01-20 21:23:42( TIMEZONE : IST )

Trent Ltd has executed a Joint Venture Agreement with MAS Amity Pte. Ltd. to set up an entity in India for jointly developing a business of intimate wear and other apparel related products.

Over time, Trent and MAS would pool their domain expertise to undertake design, development and manufacturing of a range of intimate wear and other apparel products. Initially, the joint venture would facilitate design and sourcing of related products.

Speaking on the occasion, Mr. Noel N Tata, Chairman, Trent Limited said, "We see significant opportunities to leverage the growing reach of our brands to build a differentiated proposition in lingerie, activewear and related categories. MAS brings impeccable capabilities and track record in the manufacture of high quality products in this space. This collaboration between Trent and MAS would deepen Trent's strategic commitment to offer fully owned brands at its retail stores and enable MAS to expand their international presence further. We are excited at the prospects of leveraging our joint synergies and deliver greater value to our customers."

Mr. Mahesh Amalean, Chairman, MAS Holdings (Pvt) Ltd said "The significance of our partnership with Tata lies in our shared sense of values and an appreciation of the enormous business opportunities that the Indian market affords. This JVA will help leverage our combined capabilities, connecting MAS' expertise in product creation and manufacturing with Tata Trent's expertise in Indian retail. This partnership further aligns with MAS' long-term intent to scale business and expand our presence in India."

Shares of Trent Limited was last trading in BSE at Rs. 1182.20 as compared to the previous close of Rs. 1197.10. The total number of shares traded during the day was 9099 in over 1011 trades.

The stock hit an intraday high of Rs. 1213.95 and intraday low of 1177.00. The net turnover during the day was Rs. 10820860.00.