Retail stocks gather momentum as Finance Minister, while delivering the Budget, announced that efforts are on for consensus FDI in Multi brand retail.
Pantaloon Retail (India) is currently trading at Rs 164.10, up by 3.25 points or 2.02% from its previous closing of Rs 160.85 on the BSE. The scrip opened at Rs 162.85 and has touched a high and low of Rs 168.05 and Rs 160.25 respectively. So far 189066 shares were traded on the counter.
Shoppers Stop is currently trading at Rs 352.10, up by 11.35 points or 3.13% from its previous closing of Rs 340.75 on the BSE. The scrip opened at Rs 340.00 and has touched a high and low of Rs 352.00 and Rs 340.00 respectively. So far 5315 shares were traded on the counter.
Trent is currently trading at Rs. 945.50, up by 16.10 points or 1.73% from its previous closing of Rs 929.40 on the BSE. The scrip opened at Rs 933.00 and has touched a high and low of Rs. 950.00 and Rs 925.05 respectively. So far 349 shares were traded on the counter.
The expectation is that the much-talked about FDI in multi-brand retail could begin in a phased manner in the metros, with the cap at a lower level coupled with incentivizing the existing 'mom-and-pop' stores (kirana stores) to modernise and compete effectively with the retail shops, foreign or domestic.
| Company Name | CMP |
|---|---|
| Avenue Supermarts | 4374.15 |
| Trent | 4156.95 |
| Vishal Mega Mart | 125.15 |
| Aditya Birla Lifesty | 102.55 |
| PN Gadgil Jewellers | 675.70 |
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