Retail shares gain after favourable FDI vote
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.
- Tweet this
- Share this
- Digg this
Shares Hit Record
The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro. Full Article
China's shadow banking sector growing rapidly, third largest in world - FSB. Full Article