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Trent likely to recover in 2026; new labour laws to raise costs, not earnings, says Saurabh Mukherjea

Saurabh Mukherjea says Trents sharp correction is driven by a clear slowdown in same-store sales growth amid a broader consumption slump. He warns that new labour laws will raise employer costs by 12% and that rapid automation and AI pose a bigger structural threat to Indias job market. Marcellus remains bullish on Trent, Asian Paints and healthcare names like Vijaya Diagnostics and Narayana Health.