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    Provogue, Pantaloon Retail, Shoppers Stop surge on FDI nod

    Provogue, Pantaloon Retail, Shoppers Stop surge on FDI nod
    Provogue India: Quotes, News
    BSE 1.26BSE Quote0.06 (4.76%)
    NSE 1.30NSE Quote0.05 (3.85%)
    The shares of the Provogue, Pantaloon and Shoppers Stop surged on Monday after Cabinet approved FDI in multi-brand retail trading, with specified conditions.

    Provogue shares rose by 11.97% to Rs 17.96 on BSE at 12.25 pm IST. It touched intra-day high of Rs 18.90.

    The shares of the Pantaloon Retail surged by 18.24% to Rs 186.35. It touched intra-day high of Rs 209.00.

    Koutons Retail was seen higher by 4.99% to Rs 7.15. The Shopper Stop stocks was seen trading up by 9.52% to Rs 394.70. It touched the intra-day high of Rs 415.

    On Friday, government allowed 51% FDI in multi-retail brand. This is a welcome move by the government which is going to benefit and attract investors.

    While, farmers stand to benefit from the significant reduction in post-harvest losses, expected to result from the strengthening of the backend infrastructure and enable the farmers to obtain a remunerative price for their produce.

    Small manufacturers will benefit from the conditionality requiring at least 30% procurement from Indian small industries, as this would enable them to get integrated with global retail chains. This, in turn, will enhance their capacity to export products from India.

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