Future Retail is big loser

Future Retail is a big loser on the BSE today, down almost 3% at Rs.138. Its 52-weel low stands at Rs.122.61.

The stock has fallen on the back of the new tougher norms announced by the Govt on FDI in multi brand retail. As per the new rule, big retailers like Tesco and Wlamart will now no longer be able to acquire an existing retailer to mark its easy entry into the Indian market. This means retailers like Future Retail will not be able to sell stake as they had expected.