India, Nov. 3 -- Trident Limited shares witnessed strong buying activity after the textile and paper manufacturer announced a steep rise in their quarter profits and a Rs.4,650 crore investment plan. The company has revealed that they will expand their production capacity significantly over the next three year period.

With a market capitalization of Rs. 12,413.75 crore, the shares of Trident Ltd were trading at Rs. 24.36 per share, up 9.73% from its previous closing price of Rs. 22.20 apiece after the shares touched an Intraday High of 13.42% to Rs.25.18. The stock trades at a P/E of 25.9x on a consolidated basis.

Profit Nearly Doubles Despite Lower Revenue Trident witnessed a 3.8% fall in consolidated revenues to Rs.1,719.48 crore in...