Amazon vs Future Grp: Tech charts show 20% downside in Future Group stocks

Future Group stocks were locked in their respective lower circuit bands, triggering bearish moves in the counters

In a major win for Amazon, the Supreme Court on Friday allowed an appeal filed by the e-commerce giant against a Delhi High Court order staying attachment of properties of Future Group companies and Kishore Biyani in relation to the Rs 24,713-crore Future-Reliance deal. 

Amazon and Future had been locked in legal battles over the deal, with the US-based firm accusing the Future Group of violating pre-existing contracts when it sold its assets to rival Reliance Industries. Future Group, however, has denied any wrongdoing. READ HERE

Following this development, shares of Future Group companies tumbled up to 16