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Tata Group retail firm Trent surges over 12%, here's what's behind today's rally

Shares of Tata Group retail firm Trent surged over 12 per cent on Tuesday. The counter opened gap up with a gain of 8.74 per cent from the previous close of Rs 2,575 on the BSE. Amid a spurt in trading volume by over 4.27 times, the stock gained further to touch the upper circuit of Rs 2,832.50. Later, it touched the intraday high of Rs 2,901.20, representing a gain of 12.67 per cent. Last seen, the stock was trading at Rs 2,883.95, with a gain of Rs 308.95 or 12 per cent, and the market cap of the company stood at Rs 1,53,781.50 crore.