The company made the announcement before trading hours today, 4 June 2014.

Meanwhile, the BSE Sensex was down 23.08 points, or 0.09%, to 24,835.51.

On BSE, so far 2,890 shares were traded in the counter, compared with an average volume of 5,700 shares in the past one quarter.

The stock hit a high of Rs 1,067 and a low of Rs 1,050.30 so far during the day. The stock hit a 52-week high of Rs 1,339.80 on 31 December 2013. The stock hit a 52-week low of Rs 902 on 1 November 2013.

The stock had underperformed the market over the past one month till 3 June 2014, rising 6.45% compared with 10.96% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 4.26% as against Sensex's 18.68% rise.

The mid-cap company has an equity capital of Rs 33.23 crore. Face value per share is Rs 10.

Trent announced that Tesco, through a wholly-owned subsidiary, has concluded its purchase of part of the equity shares held by the company in Trent Hypermarket (THL), a wholly owned subsidiary of Trent, and subscribed for additional THL equity shares. Consequently, Trent and Tesco will each hold a 50% stake in THL.

In March this year, Trent formally announced a joint venture with British retail giant Tesco to set up a supermarket in India. The agreement envisaged that Tesco Overseas Investments (Tesco Overseas), a wholly-owned subsidiary of Tesco, would purchase part of the equity shares currently held by Trent in THL for approximately Rs 150 crore and would separately subscribe to additional THL equity shares for an amount of approximately Rs 700 crore.

Following the conclusion of the proposed investment, Trent and Tesco Overseas will each hold a 50% stake in THL.

In December 2013, Trent announced that THL currently operates 16 stores across the Southern and Western regions of India. The proposed partnership will operate and build on the existing portfolio of Star Bazaar stores in Maharashtra and Karnataka, the company said.

In September 2012, the previous ruling government had allowed 51% foreign direct investment (FDI) in the multi-brand retail sector.

Net profit of Trent rose 27.93% to Rs 24.96 crore on 41.31% rise in net sales to Rs 298.01 crore in Q4 March 2014 over Q4 March 2013.

Trent, a part of Tata Group, is engaged in operating retail chains in India.