Trent's market capitalisation raced past DMart after the latter fell 8% on the bourses today. 

What Happened: Trent's market capitalisation reached ₹2.96 lakh crore on Monday as the stock reached its intraday high of ₹8345.85. At the same time, DMart's market capitalization fell to ₹2.69 lakh crore as the stock fell to an intraday low of ₹4143.6.

Dmart's shares fell after the company's poor Q2 results prompted a bearish stance from the brokerages. 

Trent's surge has taken it to 32nd most valuable company in India ahead of major companies such as Wipro, Siemens, Adani Green, Zomato, Jio Financial and Nestle India. 

The retail giant’s market cap is now very close to its Tata Group peer Titan. Titan’s market cap is around ₹3.10 lakh crore. Shares of the jewellery giant have remained under pressure this year going down around 5% since January 1.

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Trent's shares have grown over 173% in 2024. The stock's strong performance earned it a place in the benchmark Nifty 50 index in September. Following this, the stock saw mutual funds increasing their ownership in the stock by 10.6% from the previous month to 2.95 crore shares, worth ₹22,370 crore.

Global brokerage firm Morgan Stanley also reaffirmed their bullish stance on Trent, indicating the company will gain from the mass-priced beauty segment with Zudio Beauty.

Price Action: Shares of Trent fell 0.43% to ₹8,199.65 while shares of DMart fell 8.28% to ₹4,194. 

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