Trent Limited, Berger Paints, Alkem Laboratories: Why Are These Stocks In News Today?

Shares of Trent Limited, Berger Paints, and Alkem Laboratories remained on investors' watchlist on Wednesday. Before we discuss why these stocks have grabbed the limelight today, let us check the share price of Trent Limited, Berger Paints, and Alkem Laboratories in today's intraday trading.

The share price of Trent Ltd was up 2.20% at Rs 2481.55 per share at 9:53 am IST today, while the share price of Berger Paints was up 1.09% at Rs 577.40 per share at the time of writing this article. Alkem Laboratories shares were spotted trading were up 4.79% at Rs 4219.90 per share.

The uplift in Trent Ltd shares was seen after the company reported strong Q2 results where its consolidated net profit for the September quarter of FY24 rose 55.9% at Rs 289.6 crore compared to a profit of Rs 186 crore in the same quarter of the previous financial year. Total revenue of the company during this period grew almost 59% at Rs 2,891 crore.

The company's EBIDTA grew 73% at Rs 461 crore. The EBIDTA margin was at 15.9% compared to 14.7% in the year-ago period. Trent Limited has a 52 Wk High and 52 Wk low of Rs 2,492.00 and 1,155.10. In this year so far the stock has gained 84%.

Berger Paints

The stock of Berger Paints traded in the green territory today. Today's uptick in Berger Paints shares was seen even though there was no market-sensitive announcement by the company. Earlier, this month the company posted decent Q2 results as the paint company reported a 33% jump in consolidated net profit of Rs 292 crore for the second quarter of the 2023-24 fiscal.

During this period, the company's revenue from operations rose 3% at Rs 2,767 crore compared to Rs 2,670.9 crore in the corresponding period last year, while its EBITDA (excluding other Income) for the July-September period increased 30% at Rs 474 from Rs 364 crore in the same quarter last year.

Alkem Laboratories

Alkem Laboratories shares remained on investors' radar on Wednesday after the company reported better-than-expected Q2 results. In its earnings update for the July-September quarter, the Pharmaceutical company's net profit increased 87.5% on year to Rs 620.50 crore in Q2 while revenue grew almost 12% to Rs 3,440 crore.
During the quarter, the drug maker's operational performance also improved. The pharma company's EBITDA margin was better than Street's estimate as it expanded sharply to 21.7%.

In the broader market, the Indian benchmark indices traded higher today. At the time of writing this article, the benchmark index Sensex was up 0.10% at 65,004.41 points, while Nifty 50 was up 0.08% at 19,422.85 points.