Shoppers Stop in the limelight

There is good news for Shoppers Stop this week too. This time its from Kishore Biyani’s Future Retail; unconfirmed news is that it plans to acquire Shoppers Stop’s subsidiary, HyperCity for Rs.700 crore.

The payment is to be a combination of cash and shares and all details are expected to come out tomorrow post the scheduled Board meeting.

This news has created a buzz around Shoppers Stop, which today rose over 6% to Rs.525, which is not very far away from its 52-week high of Rs.540.25.