Shares of Tata Group’s Trent Ltd., which was the worst performer on the Nifty 50 index in January, have begun the month of February on strong footing.

The stock is the best performer on the Nifty 50 index, trading with gains of over 8%. This is the biggest single-day move seen by the stock since August 9, 2024, which is the day the stock had reported its June quarter results.

Trent, along with other consumption-oriented names have received a boost after Finance Minister Nirmala Sitharaman announced in her Budget speech on Saturday, February 1, that the individuals availing income of up to ₹12 lakh, will not have to pay any tax on claiming rebates.

Also Read: Budget 2025: How income up to ₹12 lakh is tax-free under new tax regime | Explained

The Nifty FMCG index has gained the most in seven months post the announcement with stocks like Radico Khaitan trading with gains of up to 10%. You can read about which stocks have seen the biggest surge post the budget announcement here.

Shares of Trent were the worst performers on the Nifty in January, having declined close to 20%. This was the worst monthly performance of Trent, a new entrant to the Nifty 50 index, since March 2020, which was the month when the Covid-19-related lockdowns were imposed.

As of closing on Friday, shares of Trent were down over 35% from their recent peak of ₹8,345.

Out of the 22 analysts who have coverage on Trent, 12 of them have a “buy” rating on the stock, while five each have a “hold” and “sell” rating.

Shares of Trent are trading 8% higher on Saturday, at ₹6,210. The stock was also among the best performers on the Nifty 50 index on Friday ahead of the Budget.