Stocks

Retail stocks end on a mixed note after FDI move

BL Internet Desk Chennai | Updated on January 11, 2018 Published on January 10, 2018

Retail sector stocks ended the session on a mixed note after the Union Cabinet has approved 100 per cent FDI under automatic route for single brand retail trading.

Futures Enterprises was up 5.11% at Rs 49.40, Avenue Supermarts (+1.38% at Rs 1,248.25), Shoppers Stop (+2.01% at Rs 546.05), and Trent (+1.15% at Rs 344.15). On the other hand, Aditya Birla Fashion stock was down 1.94% to Rs 174.60, Future Retail (-1.94% at Rs 554.90), and Future Lifestyle Fashions (-1.67% at Rs 383.60).

According to an official release, the existing FDI policy on single brand retail trading allows 49 per cent FDI under automatic route, and FDI beyond 49 per cent and up to 100 per cent through Government approval route. It has now been decided to permit 100 per cent FDI under automatic route for SBRT.

Earlier in October last year, three FDI proposals, including that of Mountain Trail Foods and Kohler India Corporation, were approved by the Department of Industrial Policy and Promotion (DIPP) in the single-brand retail sector. Similarly, Merlin Entertainments India got approval to undertake retailing under the brand ‘Madame Tussauds’ It plans to invest Rs. 1 crore.

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Published on January 10, 2018
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