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Single brand retail gets approval from DIPP; stocks react
Today retail stocks are in buzz after the single brand retail press note got approval by DIPP (Department Of Industrial Policy & Promotion
), reports CNBC-TV18.
Today retail stocks are in buzz after the single brand retail press note got approval by DIPP (Department Of Industrial Policy & Promotion ), reports CNBC-TV18.
According to press note, 100% FDI allowed in single brand retail via government route. Above 51% will be mandatory sourcing from SME's. The SME's defined as industries with Investments not exceeding USD 1 million.
The Federation of Indian Chambers of Commerce and Industry (FICCI) has welcome 100% FDI in single brand retail and also hopes FDI in multi-brand retail comes before Budget.
Pantaloon Retail touched an intraday high of Rs 160 and an intraday low of Rs 150.65. At 09:23 hrs the share was quoting at Rs 158.80, up Rs 12.20, or 8.32%. It was trading with volumes of 349,228 shares.
Archies has touched an intraday high of Rs 32.50 and an intraday low of Rs 30.05. At 09:23 hrs the share was quoting at Rs 31.00, up Rs 3.90, or 14.39%. It was trading with volumes of 106,072 shares.
Provogue (India) touched an intraday high of Rs 27.90 and an intraday low of Rs 25.35. At 09:24 hrs the share was quoting at Rs 27.70, up Rs 3.10, or 12.60%. It was trading with volumes of 134,145 shares.
Arvind touched an intraday high of Rs 82.50 and an intraday low of Rs 79. At 09:24 hrs the share was quoting at Rs 82.00, up Rs 3.75, or 4.79%. It was trading with volumes of 212,423 shares.
