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Retail Stocks Trade Mixed After Cabinet Approves 100% FDI In Single-Brand Retail
In the existing scenario on single brand retail 49% FDI is allowed through the automatic route while any foreign direct investment amount over 49% and upto 100% needs government approval.
The Union Cabinet has given a go ahead to 100% FDI in single brand retail via automatic route. After this development, stocks of retail company were seen trading mixed.
/img/2018/01/stockmarketgains-10-1515576180.jpg "Retail Stocks Trade Mixed After Cabinet Approves 100% FDI In Single-Brand Retail")
Some of the stocks including Avenue Supermarts, Zodiac Clothing, Monte Carlo, Future Enterprises, Trent, Shopper Stop were trading higher. While a few others including Aditya Birla Fashion, Future Lifestyle Fashions, Future Retail were down in trade.
As per a release, in the existing scenario on single brand retail 49% FDI is allowed through the automatic route while any foreign direct investment amount over 49% and upto 100% needs government approval.
The NSE Nifty50 index was trading lower by 12 points at 10624.85 while Sensex was trading 34420.57.
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