Promoters Made Trident Share Price Happy

Yesterday, the NSE trading window witnessed a block deal for the Trident Limited shares. The shares changed hands from TAL Benefit Trust who sold 13,48,387 shares at Rs. 47.45 to Trident group Ltd. who bought the shares at the same price. TAL benefit trust was the no promoter shareholder of the company and previously held 2.86% stakes in the company and the promoter Trident group held the highest 28.88% stakes as on June 2016.

Yesterday, Trident share price closed at Rs. 47.20 while it opened at Rs. 47.30. Currently, it is trading at Rs. 47.35 with a marginal rise of 0.32%. So far, the intraday high has been Rs. 47.70 and the intraday low has been Rs. 47.15.

From among the 50.94 crores shares of Trident, Indian promoters hold 66.49% of stakes while the institutional holding stands at 2.61%. The remaining 30.90% is held by the other non-institutional bodies. Among the promoters, Trident group Limited holds the highest stake of 28.88%, then comes Madhuraj foundation with 27.51% stakes, Trident Industrial Corp Ltd. follows with 5,89% stakes and then stands Trident Capital Limited with 3.93% stakes.

Trident is among the multibagger stocks list of Dynamic Levels, and Trident share price has been trading near its closest resistance level of Rs. 49.15. The closest support level for the stock stands at Rs. 42.25.

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