Retail stocks rise ahead of voting for FDI in multi-brand retail

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 Retail stocks rise ahead of voting for FDI in multi-brand
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BSE 290.00BSE Quote1.7 (0.59%)
NSE 290.85NSE Quote2.95 (1.01%)
Shares of retailers rose ahead of key voting in the Lok Sabha for permitting foreign direct investment in the retail sector.

Pantaloon Retail was up by 1%, Shoppers's Stop was up by 1.1% at Rs 436, while Provogue and Brandhouse were trading flat.

The Lok Sabha will debate allowing FDI in multi-brand retail, followed by voting later in the day. It is largely expected that FDI in multi-brand retail would sail through in the Lok Sabha, but, its passage in the Rajya Sabha remains a crucial question, given that the government is clearly in a minority.

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