Trent reported standalone revenue from operations of ₹5,788 crore for Q2FY27, up 23% year over year, and its shares surged on October 6, 2026. But the SELL rating identified in available coverage is an HDFC Securities call dated June 27, 2025—not a new recommendation responding to the update. The share-price move and the rating therefore need to be read as separate events.
What Trent reported for Q2FY27
Trent’s quarter ended September 30, 2026. ETMarkets.com reported the company’s business update as showing standalone revenue from operations of ₹5,788 crore, compared with ₹4,724 crore a year earlier. That is 23% year-over-year growth in revenue, not a 23% increase in net profit. The figures are reported secondhand; the original exchange filing was not available in the cited coverage. ETMarkets.com coverage
For the first half of FY27, the same report put standalone revenue at ₹11,454 crore, up 21% from ₹9,505 crore. Merchandise sales excluding other operating income also grew 23% in Q2 and 21% in H1, according to that report.
Store expansion
Trent said it opened its 1,000th Zudio store during the quarter and had 1,342 stores across Westside, Zudio and other lifestyle brands as of September 30, 2026. It added a net 10 Westside stores and 17 Zudio stores in Q2, as reported by ETMarkets.com.
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What happened to Trent shares on October 6
Reports described Trent shares hitting the BSE upper price band at ₹2,832 on October 6, 2026. Separately, Moneycontrol reported an NSE intraday high of ₹2,909, a gain of 12.75% over the prior close. These are different exchange price points during the session: the NSE high should not be presented as the BSE upper-circuit price. The Economic Times and Moneycontrol covered the move.
The rally followed Trent’s business update. A one-day price move, however, does not establish whether the stock is fairly valued or suitable for a particular investor. Revenue growth and store additions are only part of the picture; margins, profitability, store productivity and same-store sales help show whether expansion is translating into durable financial performance.
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Is there a new SELL call after the update?
The SELL rating located in the available sources is in an HDFC Securities report dated June 27, 2025. It predates the Q2FY27 update by more than a year, so it is a historical recommendation, not evidence of a new SELL call issued in response to the October 2026 revenue figures. HDFC Securities’ June 27, 2025 report
October 6 coverage instead described positive brokerage reactions, including BofA Securities initiating coverage with a Buy rating and a ₹3,075 target, as reported by ETMarkets.com. That target is a brokerage view, not a guaranteed future price. Moneycontrol quoted analysts who saw the update as strong while identifying margins, bottom-line profitability and same-store sales as measures to watch.
Because recommendations can change and are tied to the analyst’s assumptions and publication date, a historical SELL and a later Buy initiation are not directly comparable without reviewing their respective valuation methods, forecasts and dates. The sources cited here do not substantiate a new SELL call after Trent’s Q2FY27 update.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What investors should look for next
- Margins: Whether revenue growth is accompanied by stable or improving margins.
- Profitability: The full quarterly results, especially bottom-line performance, provide evidence that a revenue update alone cannot.
- Same-store sales and productivity: Growth at existing locations can help distinguish underlying demand from expansion through new stores.
- Store rollout: The quarter-end store count shows the scale of the network, but not the sales or returns generated by each store.
For an investment decision, use the full results and current, dated analyst research rather than treating the 23% revenue increase, the October share-price surge or a year-old rating as a standalone verdict.
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