Trent's AGM lays out 5,000-store Zudio runway; Morgan Stanley stays Overweight at Rs 3,151
Post-AGM guidance: 50 Westside, 200-250 Zudio and 25-40 Star openings annually, with long-term potential of 700 Westside and 5,000 Zudio outlets. Morgan Stanley reiterates Overweight with TP Rs 3,151. CLSA separately tags Nykaa as a buy candidate, signalling renewed brokerage conviction on India's value-fashion and beauty plays.
MS reiterates Overweight on Trent (TP Rs 3151) post-AGM: guidance of 50 Westside, 200-250 Zudio, 25-40 Star stores annually, with long-term potential of 700 Westside and 5,000 Zudio outlets; CLSA flags Nykaa as buy candidate.