Mumbai: The Cabinet will consider 51 per cent Foreign Direct Investment (FDI) in multi-brand retail and 100 per cent in single-brand retail. India currently allows 51 per cent foreign investment in single-brand retailers and 100 per cent for wholesale operations, a policy that the world's top retailer Wal-Mart and Carrefour among others have lobbied to change for years.
In the backdrop of a slowing economy and the government struggling to shake off an image of policy paralysis, momentum to open up the multi-brand sector appears to have picked up.
Vishal Retail touched an intraday high of Rs 19.20 and an intraday low of Rs 18.25. At 09:23 hrs the share was quoting at Rs 18.65, up Rs 1.45, or 8.43 per cent. It was trading with volumes of 26,489 shares.
Koutons Retail India touched an intraday high of Rs 21.25 and an intraday low of Rs 20.25. At 09:23 hrs the share was quoting at Rs 21.25, up Rs 1.30, or 6.52 per cent. It was trading with volumes of 40,669 shares.
Pantaloon Retail touched an intraday high of Rs 188.70 and an intraday low of Rs 182. At 09:23 hrs the share was quoting at Rs 188.00, up Rs 9.30, or 5.20 per cent. It was trading with volumes of 134,618 shares.
Shoppers Stop touched an intraday high of Rs 363.90 and an intraday low of Rs 355. At 09:23 hrs the share was quoting at Rs 362.10, up Rs 9.50, or 2.69 per cent. It was trading with volumes of 5,408 shares.
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