Will see FY18 same-store-sales growth at 10-12%: V-Mart Retail

The V-Mart Retail stock has been on fire with a 250 percent gain in the last one year and is trading near an all-time high. The company is also in focus as at a cabinet meeting later today, the government may allow 100 percent foreign direct investment (FDI) in single-brand retail through automatic route.

Lalit Agarwal, CMD of V-Mart said that the industry had been pushing for FDI via automatic route already.

He further said that more foreign competition would result in better competition.

According to him, 100 percent FDI in single-brand retail via automatic route will create level playing field.

Talking about business, he said that in second half, the same-store-sales growth will not be as good as first half due to high base.

We will see FY18 same-store-sales growth at 10-12 percent, he added.

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