Future Retail shares fall on FDI guidelines clarification

Future Retail shares slipped as much as 3.4 per cent in early trade on Friday after the government declared that foreign retailers entering India would not be allowed to buy existing assets; rather they would have to invest in new supply infrastructure. The clarification reduced prospects that foreign retailers like Wal-Mart, Carrefour and Tesco would buy Indian companies or some of their assets. As of 9:21 a. m., shares of Future Retail were trading at a loss of 2.3 per cent, while the broader Nifty was down just 0.2 per cent. read more

Future Retail shares slipped as much as 3.4 per cent in early trade on Friday after the government declared that foreign retailers entering India would not be allowed to buy existing assets; rather they would have to invest in new supply infrastructure. The clarification reduced prospects that foreign retailers like Wal-Mart, Carrefour and Tesco would buy Indian companies or some of their assets. As of 9:21 a. m., shares of Future Retail were trading at a loss of 2.3 per cent, while the broader Nifty was down just 0.2 per cent. read more

[via Stock Watch – Stock Specific News]

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