Textile manufacturer Trident's stock price rises over 400% in 2021

New Delhi, Dec 19 (IANS) Shares of Trident have witnessed an over 400 per cent return year-to-date in the calendar year 2021.

Founded in 1990 as a home textile manufacturer, the company has now diversified into paper, chemicals, and energy. Started in Punjab, the company now has customers across 100 countries.

From Rs 10 per share on January 1, 2021, the price has now touched Rs 55 at Friday's close, rising as high as 409 per cent.

To put things in perspective, the benchmark Sensex rose nearly 19-20 per cent in 2021.

The performance of the benchmark index typically gives an indication about the sentiment and performance of the overall equity market.

The company's market capitalisation is Rs 27,925 crore, NSE data showed. The company's net profit reportedly rose 122 per cent to Rs 234.59 crore in Q2FY22 over Q2FY21.

In addition, the Centre's production-linked incentive offerings in key manufacturing sectors, textiles included, seemed to have boosted the Trident's business outlook.