Pantaloon Retail fell as much as 3.2 percent after the Commerce Minister said a proposal to open multi-brand retail to foreign direct investment was not on the agenda of the government's cabinet meeting on Friday.
Pantaloon shares were down 2.8 percent at 146.75 rupees at of 12:34 p.m., while Shoppers Stop was down 0.8 percent.
However, the minister said the cabinet would discuss a proposal to allow FDI into the aviation sector, though the news had been expected.
Airline shares held on to their previous gains, with SpiceJet up 3.2 percent.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app