Home » News » Retail shares zoom on hopes of FDI revival/news06012012
Retail shares zoom on hopes of FDI revival/news06012012
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Friday, January 06, 2012
Shares of Retail Companies rose by 0.32%-13.14%, on reports that the government will issue a formal order to allow 100% foreign direct investment ( FDI) in single-brand retail.
At 2.33 pm, Shoppers Stop up 13.14%, Pantaloon Retail India up 8.03%, Koutons Retail India up 6.80%, Trent up 0.53% and Rei Six Ten Retail up 0.32%.
The government is likely to soon issue a formal order for the full opening up of the country’s single-brand retail segment to foreign direct investment,' a report suggests quoting P.K. Chaudhary, secretary at the Department of Industrial Policy and Promotion.
The government is in talks with farmers and small traders over the issue of FDI in multi-brand retail and consultations with these stakeholders are likely to be completed by the month end, the report added.
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