January 10, 2018 / 8:13 AM / 5 months ago

BUZZ-India's single-brand retailers up on approval for full foreign investment

** Indian retailers rise after government allows 100 pct foreign direct investment in single-brand retail via the automatic route

** Monte Carlo Fashions rises as much as 9.4 pct to 664 rupees, its highest since Dec. 22, 2008

** Zodiac Clothing Company Ltd gains as much as 10 pct to its highest since Feb. 26, 2016; Indian Terrain Fashions Ltd climbs 9 pct

** Trent Ltd up 3.8 pct, while Shopper’s Stop Ltd rises 2.5 pct

** “This clearance means that foreign brands can now acquire one of these single-brand retailers in India, and valuations of such companies could shoot up,” said an analyst at a Mumbai-based brokerage firm

** “However on the negative side, this clearance could intensify competition in the sector,” the analyst added

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