In past three trading days, the stock had rallied 38 per cent from Rs 117 to Rs 162 on Monday. It has soared 62 per cent in nine trading days, as against 0.26 per cent rise in the S&P BSE Sensex till yesterday.
On Saturday, August 29, Reliance Industries
(RIL) and Future Enterprises announced deal where Reliance Retail will acquire the retail & wholesale, logistics & warehousing business from Future Group.
“Future Enterprises will subsequently sell by way of
a slump sale the retail and wholesale business that includes key formats such as Big Bazaar,fbb, Foodhall, Easyday, Nilgiris, Central and Brand Factory to
Reliance Retail and Fashion Lifestyle (RRFLL), a wholly owned subsidiary of Reliance Retail Ventures(RRVL). It will also sell the logistics and warehouse business to RRVL by way
of a slump sale. RRFLL and RRVL will take over certain borrowings and current liabilities related to the business and discharge the balance
consideration by way of cash,” Future Group said in a press release. CLICK HERE TO READ FULL PRESS RELEASE.
Besides Future Retail, Future Enterprises and Future Lifestyle Fashions were down in the range of 2 per cent to 5 per cent on Tuesday. However, Future Supply Chain Solutions (Rs 166.50), Future Consumer (Rs 12.65) and Future Market Networks (Rs 29.10) gained in the range of 4 per cent to 5 per cent on the BSE. In comparison, the S&P BSE Sensex was up 0.92 per cent at 38,984 points at 02:17 pm.
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