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Retail stocks plunge on SP’s opposition to the FDI in multi-brand retail

Future Enterprises Ltd. | Retailing | Retail | BSE: 523574 | NSE: FEL

23 Jul 2012 Evaluate

Samajwadi Party, the new ally of UPA-II government, has opposed the foreign direct investment in multi-brand retail. This news has sent the retail stocks in red since the first trade. The highly publicized issue of multi-brand retail, if approved, will affect the local kirana stores and increase unemployment as it is the second largest employer in the country after agriculture, argued the SP in a written communication to the Prime Minister. However, investors have pinned their hopes on the entry of Pranab Mukherjee as President as he may open doors for FDI in retail sector among the other key expectations.

Pantaloon Retail (India) is currently trading at Rs. 179.80, down by 10.20 points or 5.37% from its previous closing of Rs. 190.00 on the BSE. The scrip opened at Rs. 187.00 and has touched a high and low of Rs. 187.00 and Rs. 177.80 respectively. So far 546078 shares were traded on the counter.

Provogue (India) is currently trading at Rs. 17.40, down by 1.25 points or 6.70% from its previous closing of Rs. 18.65 on the BSE. The scrip opened at Rs. 18.25 and has touched a high and low of Rs. 18.25 and Rs. 17.10 respectively. So far 115554 shares were traded on the counter.

Shoppers Stop is currently trading at Rs. 369.15, down by 16.45 points or 4.27% from its previous closing of Rs. 385.60 on the BSE. The scrip opened at Rs. 371.05 and has touched a high and low of Rs. 379.35 and Rs. 366.15 respectively. So far 412679 shares were traded on the counter.

Koutons Retail India is currently trading at Rs. 9.35, down by 0.48 points or 4.88% from its previous closing of Rs. 9.83 on the BSE. The scrip opened at Rs. 9.70 and has touched a high and low of Rs. 9.70 and Rs. 9.26 respectively. So far 60170 shares were traded on the counter.

Future Enterprises Share Price

0.50 0.01 (2.04%)

17-Apr-2026 16:59 View Price Chart

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Retail stocks plunge on SP’s opposition to the FDI in multi-brand retail

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