Retail stocks like Pantaloon Retail, Shoppers Stop, V2 Retail and Trent are trading higher on back of news reports that the government may allow foreign direct investment (FDI) in multi-brand retail.
Markets expect that the inter-ministerial discussions on FDI for the retail sector are likely to end on Friday. 100% FDI in single brand retail, which is currently capped at 51%, is likely to be approved by the Cabinet.
Pantaloon Retail is the top gainer among the retail stocks. The stock has jumped nearly 3% to Rs 188. Shoppers Stop' is trading higher by 2.5% at Rs 358, V2 Retail and Trent have also soared 2.4% and 1.6% each respectively.
As many as 378,000 shares of Pantaloon Retail have changed hands compared to its two-week average of 330,000. Shoppers Stop also witnessed a hike in ts trading volumes as 7,409 shares changed hands compared to its two-week average of 7,304.
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