Trident gains its own butter after having a stomach full from two cats' fued

Trident is certainly having a jolly day this August. Shares of the company, which were on a bull run after the Welspun and Target Corp., episode, this time have something of its own to cheer, which will accelerate the share prices further. Company on Aug 29, informed bourses that it has received environmental clearance for additional paper capacity and captive power. The cost of the project is estimated to be around Rs 440 crores.

Shares of the company, on Aug 29 closed at Rs 58.05, gaining 3.66 per cent. Shares in the last 5 days, have rallied over 23 per cent. Last week's rally was largely on the news that Target Corp., which was the largest customer of Welspun, is now looking for an alternative and is reviewing sample bedsheets of Trident. 52 weeks' High/Low of the company stands at Rs 62/29.60.

While on the other hand, Welspun India, which opened positive, later again saw some profit booking with shares closing at Rs 48.75, plunging by 1.91 per cent. Meanwhile company has appointed Ernst & Young to review the supply chain system.