Future Retail and Trent shares climbed 6.7 percent and 3 percent, respectively. Sources told CNBC-TV18 that Future Group is likely to tie-up with Trent Hypermarket for distributing private fast moving consumer goods (FMCG) labels.
It is learnt that the group may announce Trent tie-up on March 3 and it will distribute private FMCG labels via Trent's Star Bazaar stores.
With this, Future Group expects private FMCG label sales to touch Rs 20,000 crore by 2021.
Trent, the Tata group firm, operates retail chain Westside, hypermarket chain Star Bazaar and family entertainment format store Landmark. Hypermarket has 20 Star Bazaar Stores. Star Bazaar is Tata & Tesco enterprise.
Future Group owns Future Retail, Future Lifestyle Fashion and Future Consumer Enterprise. Future Retail focuses on hypermarket & supermarket business led by formats like Big Bazzar, FB, fbb, Foodhall, HomeTown & Ezone. Future Lifestyle Fashion caters to fashion businesses with brands & retail formats like Central, Brand Factory, Planet Sports, I Am in and aLL.
At 11:38 hours IST, the scrip of Trent was quoting at Rs 1,497, up 1.89 percent, Future Retail advanced 4.42 percent to Rs 133.45 and Future Lifestyle Fashions rose 2 percent to Rs 81.25.
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!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
