Future Retail gains on bargain hunting

Future Retail rose 3.27% to Rs 105.75 at 15:23 IST on BSE on bargain hunting after the stock tumbled 11.53% in the preceding eight trading sessions to Rs 102.40 on 9 March 2015, from a recent high of Rs 115.75 on 25 February 2015.

Meanwhile, the BSE Sensex was down 131.39 points, or 0.46%, to 28,713.39.

On BSE, so far 2.97 lakh shares were traded in the counter, compared with an average volume of 3.44 lakh shares in the past one quarter.

The stock hit a high of Rs 109.60 and a low of Rs 102 so far during the day. The stock hit a 52-week high of Rs 151.50 on 3 February 2015. The stock hit a 52-week low of Rs 78.12 on 14 March 2014.

The stock had underperformed the market over the past one month till 9 March 2015, falling 28.37% compared with 2.19% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 16.36% as against Sensex's 3.77% rise.

The mid-cap company has an equity capital of Rs 77.66 crore. Face value per share is Rs 2.

Net profit of Future Retail declined 75.53% to Rs 5.32 crore on 14.92% rise in net sales to Rs 2616.03 crore in Q3 December 2014 over Q3 December 2013.

Future Retail owns and operates retail stores. The company, through subsidiaries, offers a wide cross-section of products to consumers via its supermarket, hyper-market, mall, electronic store, and homeowner chains. Future Retail serves buyers, sellers and manufactures throughout India.

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