The Future Group's logistics arm will issue 3.78 million shares to Nippon Express at a price of Rs 664 per share
"The company being one of the largest service providers with an extensive network of facilities in a fast-growing third-party logistics market is looking attractive for long term investment. Hence, we recommend buy with target of Rs 780," says Sumit Bilgaiyan, Founder of Equity99.
In terms of growth the recently expanded capacity will add to both sales and net profit apart from its efforts to grow non group clients.
Our partner Generali is looking at increasing their stake in the insurance business but we are not on a journey of listing this business, said Kishore Biyani, CEO, Future Group.
Kishore Biyani's two daughters Ashni and Avni too have followed their father's footsteps and are genNext entrepreneurs of repute lording over the company's food and fashion verticals. They like the digital space and are burning the midnight oil observing consumer behaviour in this space.