Retail shares gain after favorable FDI vote

Dec 06 2012, 11:31 IST
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Retail shares rose after government won a vote on allowing foreign markets to operate in multi-brand retail.     (Reuters) Retail shares rose after government won a vote on allowing foreign markets to operate in multi-brand retail. (Reuters)
SummaryRetail shares rose after government won a vote on allowing foreign markets to operate in multi-brand retail.

Retail shares rose after the government won a vote on allowing foreign supermarkets to operate in multi-brand retail.

Shares in Pantaloon Retail rose 2 percent to its highest in over a year.

India's top retailer has surged 61.23 percent since Sept. 14, when the government approved 51 percent FDI in multi-brand retail.

Shoppers Stop, which operates the Hypercity retail chain, rose 4 percent.

The stock has gained 32.1 percent since the reform move was announced.

Trent rose 0.6 percent while CESC was up 0.2 percent.

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