According to a BSE filing by the company, it has issued of 43,95,925 equity shares of Rs 5 each at a price of Rs 407.78 per equity share, aggregating around Rs 179.26 crore, to Amazon.com NV Investment Holdings LLC.
The market breadth was in favour of the advances on Wednesday morning with 960 stocks advancing as against 649 declines while 389 remained unchanged. On the other hand, 1357 stocks advanced and 868 stocks declined while 89 remained unchanged on the BSE.
On November 14, the shareholders of K Raheja Corp Group firm Shoppers Stop had approved sale of Hypercity to Future Retail.
Axis Direct is bullish on Shoppers Stop has recommended buy rating on the stock with a target price of Rs 610 in its research report dated November 03, 2017.
Edelweiss is bullish on Shoppers Stop has recommended buy rating on the stock with a target price of Rs 692 in its research report dated October 30, 2017.
In an interview to CNBC-TV18, Govind Shrikhande, Customer Care Associate & Managing Director, Shoppers Stop spoke about the results and his outlook for the company.
Total income stood at Rs 843.65 crore during the quarter under review, down 12.30 percent as against Rs 962.01 crore in the year-ago period, Shoppers Stop said in a BSE filing.
ICICI Direct is bullish on Shoppers Stop has recommended buy rating on the stock with a target price of Rs 650 in its research report dated October 06, 2017.
Edelweiss is bullish on Shoppers Stop has recommended buy rating on the stock with a target price of Rs 692 in its research report dated October 06, 2017.
While the deal value, prima facie, looks muted, Shoppers Stop gets rid of a pain point. An expansion in Future Retail's store count and retail space will enable it to position its offerings in a premium format, thereby paving the way for a speedier turnaround of beleaguered Hypercity.
Looking at an interesting relational ship through this tie-up with Shopper's Stop as a group and Raheja family, said Kishore Biyani of Future Group.
Ashwani Gujral of ashwanigujral.com advises buying Jubilant Foodworks, Future Consumer, Tata Chemicals and Raymond.
In an interview to CNBC-TV18, Abhimanyu Sofat, VP-Research at IIFL shared his readings and outlook on specific stocks and sectors.
The deal, which is likely to be completed in the next three to five months, will see HyperCity Retail India Limited become a wholly-owned subsidiary of Future Retail.
Shoppers Stop is buzzing in trade today. CNBC-TV18 learns that Future Retail set to acquire supermarket chain, HyperCity today. The deal likely to be valued around Rs 600-700 crore.
In an interview to CNBC-TV18, Lalit Agarwal, CMD of V-Mart Retail spoke about the latest happenings in the company and sector and also shared his outlook for FY18.
Shoppers Stop and Amazon appear to have taken the correct step by integrating the advantages of physical and digital platforms, with neither dictating the way the other operates.
Amazon picks up 5 percent stake in Shoppers Stop. CNBC-TV18's Priya Sheth caught up with Govind Shikhande, MD of Shoppers Stop and asked him about the details of the agreement and how it will impact the company.
Govind Shikhande, Customer Care Associate and MD, Shoppers Stop, expects a dramatic rise in business once the agreement with Amazon.in commences in 90 days.
The partnership would allow Shoppers Stop list its entire portfolio of over 400 brands on Amazon.in and vise versa Amazon experience centres will be created across the physical network of the K Raheja Corp Group's retail arm.
Amazon India will provide marketing, promotion and visibility support to promote the sale of products of Shoppers Stop on Amazon.in.
Shoppers Stop, in a BSE filing, said there is no separate monetary consideration other than the mutual covenants and agreements of the parties.
ICICI Direct recommended hold rating on Shoppers Stop with a target price of Rs 360 in its research report dated August 01, 2017.
Edelweiss is bullish on Shoppers Stop has recommended Buy rating on the stock with a target price of Rs 429 in its research report dated July 31, 2017
Abhimanyu Sofat of IIFL prefers Trent over Shoppers Stop and feels that any news related to FDI is going to be pretty good for Trent considering their tie-ups with global retailers as on date.