Future Retail advances after RBI increases FPI ceiling

Future Retail gained 0.95% to Rs 532 at 9:51 IST on BSE after the Reserve Bank of India yesterday, 19 March 2018, notified increase in the foreign portfolio investors' investment limit in the company to 49% from 24% of its paid-up capital.

Meanwhile, the S&P BSE Sensex was up 34.07 points or 0.1% at 32,957.19.

On the BSE, 17,000 shares were traded on the counter so far as against the average daily volumes of 23,581 shares in the past one quarter. The stock had hit a high of Rs 544.95 and a low of Rs 531 so far during the day. The stock had hit a record high of Rs 657.09 on 27 November 2017 and a 52-week low of Rs 239.94 on 23 March 2017.

 

The large-cap company has equity capital of Rs 100.40 crore. Face value per share is Rs 2.

Future Retail's net profit jumped 81.2% to Rs 183.14 crore on 6.2% growth in net sales to Rs 4693.39 crore in Q3 December 2017 over Q3 December 2016.

Future Retail is primarily engaged in the business of multi-brand retail trade.

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