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Sep 21, 2012, 11.24 AM IST
Stocks of retail companies today climbed over 11% after the government implemented its decision to allow FDI in multi-brand retail sector.
Brokers said buying emerged after the government went ahead implementing its decisions to allow FDI in multi-brand retail.
Some of these stocks were beaten down yesterday.
Last evening, unfazed by opposition even from its own allies, government today went ahead implementing its decisions to allow FDI in multi-brand retail and liberalise foreign investment in aviation and broadcasting sectors.
Under the notification relating to FDI in multi-brand retail, multinational companies can invest up to 51% to open stores in 10 states and UTs which have so far agreed to implement the government decision.
Stock markets cheered the move and the BSE 30-stock index, Sensex, was in the green at 18,650.72 - up 301.47 or 1.64% at 11.07 hrs.
Tags: retail companies, FDI, multi-brand retail, Pantaloon Retail, Provogue, Koutons Retail, Trent, Shoppers Stop, Brandhouse Retails
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