Retail shares gain after favourable FDI vote

Thu Dec 6, 2012 10:16am IST

Women shop for instant noodles at a retail supermarket in Mumbai March 16, 2012. REUTERS/Vivek Prakash/Files

Women shop for instant noodles at a retail supermarket in Mumbai March 16, 2012.

Credit: Reuters/Vivek Prakash/Files

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Reuters Market Eye - Retail shares rose after the government won a vote on allowing foreign supermarkets to operate in multi-brand retail.

Shares in Pantaloon Retail PART.NS rose 2 percent to its highest in over a year. India's top retailer has surged 61.23 percent since September 14, when the government approved 51 percent FDI in multi-brand retail.

Shoppers Stop (SHOP.NS), which operates the Hypercity retail chain, rose 4 percent. The stock has gained 32.1 percent since the reform move was announced.

Trent (TREN.NS) rose 0.6 percent while CESC was up 0.2 percent.

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