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Retail shares gain on Cabinet nod for 100% FDI in single brand retail

Monte Carlo Fashions, Future Consumer, Indian Terrain Fashions, Zodiac Clothing Company, V-Mart Retail and Future Market Networks were up in the range of 4% to 9% on BSE

SI Reporter  |  Mumbai 

fdi
The Cabinet had last month approved the abolition of FIPB, which was the authority clearing foreign direct investment (FDI) proposals for 25 years

Shares of companies have rallied by up to 8% after the media report suggested that the Cabinet cleared 100% foreign direct investment (FDI) through automatic route in single brand trading.

Monte Carlo Fashions, Future Consumer, Indian Terrain Fashions, Zodiac Clothing Company, V-Mart and Future Market Networks were up in the range of 4% to 9% on BSE. The S&P BSE Sensex was trading 0.22% lower at 34,367 points at 01:38 PM.

The Cabinet has also approved some changes to in the aviation sector, according to TV reports. norms have also been liberalised for power exchanges and real estate broking, the reports said quoting sources. CLICK HERE TO READ FULL REPORT.

First Published: Wed, January 10 2018. 13:29 IST
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