Shares of Trent rose 7% to reach an all-time high on Tuesday. The company’s market capitalisation is now around ₹2.81 lakh crore.

What Happened: Trent rallied around 7% intraday to reach an all-time high of ₹7,999. The stock continued its bull run as it gained over 163% in the year so far.

The stock gained on Tuesday after Morgan Stanley maintained an "overweight" stance on the company, indicating gains for the company from the beauty and personal care (BPC) segment from Zudio Beauty stores. 

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The company had opened a Zudio Beauty store in Bengaluru. 

Trent also recently launched lab-grown diamond (LGD) jewellery brand ‘Pome' in Westside stores. Kotak Institutional Equities said the brand's pricing is disruptive with a 1-carat solitaire ring priced at ₹24k-₹29k which indicates an underlying retail price of ₹15k  1-carat LGD solitaire centrepiece. 

According to the brokerage, Trent is focusing on making LGD jewellery affordable and accessible and looking at volume, and penetration game. Kotak expects Trent to roll out the Pome Exclusive Brand Outlet (EBO). 

It sees Pome as a disruptive force and has the potential to be the Zudio of the LGD Jewellery market.  

Price Action: Shares of Trent were up 6.03% to ₹7,898.70 on Tuesday afternoon. 

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