Trent inches up on mulling to launch different formats for Star Bazaar

Trent is currently trading at Rs. 1007.00, up by 0.30 points or 0.03% from its previous closing of Rs. 1006.70 on the BSE. The scrip opened at Rs. 1007.70 and has touched a high and low of Rs. 1019.50 and Rs. 1007.00 respectively. So far 620 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1339.80 on 31-Dec-2013 and a 52 week low of Rs. 902.00 on 01-Nov-2013. Last one week high and low of the scrip stood at Rs. 1041.50 and Rs. 975.00 respectively. The current market cap of the company is Rs. 3374.33 crore. The promoters holding in the company stood at 32.61% while Institutions and Non-Institutions held 36.46% and 30.93% respectively. Trent, which formed a venture for multi-brand retail with Tesco, is mulling to launch different formats including mid-sized stores, for -- Star Bazaar -- to achieve profitability faster. In this regard, the company has opened a smaller format called Star Daily in Pune, a convenience store that is doing very well. Moreover, the company is planning to launch a second such store shortly. At present, Star Bazaar has 12 hypermarket stores, each spread over 40,000-80,000 square feet. Trent Hypermarket (THL) operates the Star Bazaar retail business in India. Trent is part of the Tata Group and is engaged in business of retailing. Trent acquired 76% stake in Landmark, one of the largest books and music retail chains in the India.