Future Group shares gain on tie-up with Ramdev's Patanjali

Shares of Future Group companies gained as much as 8.5 per cent today after the retail major entered into a partnership with Baba Ramdev-promoted Patanjali Ayurved to sell the latter's FMCG products through its stores.
Future Consumer Enterprise surged 8.59 per cent, Future Lifestyle Fashions rose by 1.03 per cent and Future Retail was up 0.47 per cent on the BSE.
Future Group expects sales from Patanjali, which is set to launch noodles next week to take advantage of the space vacated by Nestle's Maggi, to the tune of Rs 1,000 crore in next 20 months.
The companies are also considering to have production partnership and jointly develop brands in the long-term.

"In total, we would have Rs 30-40 crore business (from Patanjali products) in a month from our stores and later on it would increase up to Rs 80 crore," Future Group CEO Kishore Biyani told reporters in New Delhi.