Retail stocks under selling pressure
Retail stocks came under selling pressure on Monday, due to likely protest by opposition parties to the FDI Bill in the Parliament.
November 28, 2011 / 10:26 IST
Retail stocks came under selling pressure on Monday, due to likely protest by opposition parties to the FDI Bill in the Parliament.
Last week, Cabinet cleared the bill to increase foreign direct investment to 51% in multi-brand retail and 100% in single brand.Vishal Retail touched an intraday high of Rs 23.90 and an intraday low of Rs 20.35. At 09:24 hrs the share was quoting at Rs 20.35, down Rs 2.25, or 9.96%. There were pending sell orders of 20,247 shares. Koutons Retail India touched an intraday high of Rs 24.15 and an intraday low of Rs 20.35. At 09:24 hrs the share was quoting at Rs 20.95, down Rs 2.95, or 12.34%. It was trading with volumes of 67,667 shares. Pantaloon Retail touched an intraday high of Rs 239 and an intraday low of Rs 219.10. At 09:24 hrs the share was quoting at Rs 223.60, down Rs 10.45, or 4.46%. It was trading with volumes of 301,030 shares.Also Read - SP to protest against FDI in retail Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
