 "phoenix, mall, palladium")
Future Retail has surged 13% to Rs 271 on the BSE in intra-day trade, extending its past two-month rally, on the back of heavy volumes.
In past two months, the stock zoomed 117% from Rs 125 on December 28, 2016, as compared to 10% rise in the S&P BSE Sensex.
Future Retail (formerly known as - Bharti Retail) and Future Enterprise (formerly known as – Future Retail) had given effect to the scheme of arrangement for realignment of retail operations from May 1, 2016.
Future Retail operates in multiple retail formats in the hypermarket, supermarket and home segments of the Indian consumer market, which include Big Bazaar, easyday, KB’s, fbb, Food Bazaar, Foodhall, HomeTown and eZone.
Since February 7, post October-December (Q3FY17) quarter results, the stock rallied 43% from Rs 189 against 1.4% rise in the benchmark index.
Future Retail had reported 36% quarter on quarter (QoQ) growth in its net profit at Rs 101 crore in Q3FY17. The company’s operating performance improving in past two quarters with EBITDA (earnings before interest, tax, depreciation and amortization) margins improved to 3.8% in Q3FY17 from 3.3% in Q2FY17 and 2.9% in Q1FY17.
Same store sales growth (SSG) of Big Bazzar improved to 15.3% in December quarter against 15.1% in September quarter and 9.9% in June quarter. However, overall SSG declined to 12.5% in Q3FY17 from 13.1% in Q2FY17. It was 8.8% in Q1FY17.
At 10:31 am; the stock was up 8% at Rs 257 on BSE. The trading volumes on the counter jumped more than two-fold with a combined 2.52 million shares changing hands on the BSE and NSE so far.
In past two months, the stock zoomed 117% from Rs 125 on December 28, 2016, as compared to 10% rise in the S&P BSE Sensex.
Future Retail (formerly known as - Bharti Retail) and Future Enterprise (formerly known as – Future Retail) had given effect to the scheme of arrangement for realignment of retail operations from May 1, 2016.
Future Retail operates in multiple retail formats in the hypermarket, supermarket and home segments of the Indian consumer market, which include Big Bazaar, easyday, KB’s, fbb, Food Bazaar, Foodhall, HomeTown and eZone.
Since February 7, post October-December (Q3FY17) quarter results, the stock rallied 43% from Rs 189 against 1.4% rise in the benchmark index.
Future Retail had reported 36% quarter on quarter (QoQ) growth in its net profit at Rs 101 crore in Q3FY17. The company’s operating performance improving in past two quarters with EBITDA (earnings before interest, tax, depreciation and amortization) margins improved to 3.8% in Q3FY17 from 3.3% in Q2FY17 and 2.9% in Q1FY17.
Same store sales growth (SSG) of Big Bazzar improved to 15.3% in December quarter against 15.1% in September quarter and 9.9% in June quarter. However, overall SSG declined to 12.5% in Q3FY17 from 13.1% in Q2FY17. It was 8.8% in Q1FY17.
At 10:31 am; the stock was up 8% at Rs 257 on BSE. The trading volumes on the counter jumped more than two-fold with a combined 2.52 million shares changing hands on the BSE and NSE so far.
