Future Retail jumps after foreign fund buys stake

Future Retail rose 4.29% to Rs 131.20 at 10:51 IST on BSE after Morgan Stanley Asia (Singapore) PTE acquired 1.24% stake in the company through bulk deal on Monday, 15 September 2014.

Meanwhile, the BSE Sensex was down 36.21 points, or 0.14%, to 26,780.35.

On BSE, so far 5.16 lakh shares were traded in the counter, compared with an average volume of 2.54 lakh shares in the past one quarter.

The stock hit a high of Rs 132.40 and a low of Rs 128 so far during the day. The stock hit a 52-week high of Rs 147.85 on 5 May 2014. The stock hit a 52-week low of Rs 63.30 on 17 December 2013.

The stock had underperformed the market over the past one month till 15 September 2014, rising 2.11% compared with 2.73% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 2.74% as against Sensex's 6.30% rise.

The small-cap company has an equity capital of Rs 43.18 crore. Face value per share is Rs 2.

On Monday, 15 September 2014, Morgan Stanley Asia (Singapore) PTE acquired 26.68 lakh shares, or 1.24% equity, of Future Retail at Rs 120.18 per share via bulk deal on NSE.

The shares were acquired from Macquarie Bank, which sold 16.12 lakh shares, or 0.75% equity, in Future Retail at Rs 118.89 per share via bulk deal on NSE.

As on 19 August 2014, Macquarie Bank held 43.03 lakh shares, or 1.86% equity, of Future Retail.

Future Retail reported a net profit of Rs 66.48 crore in Q1 June 2014 compared with net loss of Rs 9.46 crore in Q1 June 2013. Total income jumped 579.83% to Rs 2376.67 crore in Q1 June 2014 over Q1 June 2013.

Figures for the previous financial period have been re-arranged and re-grouped wherever necessary without any restatement on account of the merged business. Accordingly, the previous corresponding period details would not be comparable with the current period, the company in a statement.

Future Retail, earlier known as Pantaloon Retail (India), is the flagship company of the Future Group. It is leading retailer that operates multiple retail formats in both value and lifestyle segment of Indian consumer market.

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