Meanwhile, the S&P BSE Sensex was up 153.11 points, or 0.83%, to 18,694.
On BSE, 34.48 lakh shares were traded in the counter as against an average daily volume of 8.75 lakh shares in the past one quarter.
The stock hit a high of Rs 93.40 and a low of Rs 82.95 so far during the day. The stock had hit a 52-week low of Rs 80.20 on Monday, 24 June 2013. The stock had hit a 52-week high of Rs 275.75 on 22 January 2013.
The stock had underperformed the market over the past one month till 24 June 2013, sliding 32.20% compared with the Sensex's 5.90% fall. The scrip had also underperformed the market in past one quarter, falling 38.59% as against Sensex's 1.04% fall.
The mid-cap company has an equity capital of Rs 46.31 crore. Face value per share is Rs 2.
The Future Group demerged its fashion businesses and set up the new company- Future Lifestyle Fashions Limited (FLFL), which will have a portfolio of over two dozen fashion and lifestyle brands.
Shares of Future Retail turned ex-scheme of arrangement on Friday, 21 June 2013. Record date was set on Monday, 24 June 2013. The stock slumped 32.81% to Rs 98.60 on Friday, 21 June 2013. It has fallen 40.20% in three sessions from Rs 146.75 on 20 June 2013.
In November 2012, the boards of Future Retail and Future Ventures India approved a proposal to consolidate their fashion businesses into a new to be listed entity, Future Lifestyle Fashion, which would emerge as one of India's largest integrated fashion brands and retail company.
The respective boards approved the demerger of the fashion businesses of Future Retail consisting of its Central, Brand Factory, aLL and Planet Sports formats, fashion brands, sourcing and distribution businesses, and the demerger of the fashion businesses of Future Ventures India consisting of Indus League, Lee Cooper, Celio, Holii, Indus Tree and strategic investments in AND, Biba and Turtle into Future Lifestyle Fashion.
Post this realignment, the Future Group will have three separate companies: Future Ventures, an operational entity centered around food and FMCG; Future Fashion & Lifestyle, with all the fashion brands and retailing assets; Future Retail, which will house the supermarkets like Big Bazaar.
The exchange ratio recommended by the valuers and approved by both the boards is 1 equity shares of Future Lifestyle Fashions, for every 3 equity/DVR shares held in Future Retail, and 1 equity share of Future Lifestyle Fashions, for every 31 equity shares held in Future Ventures India.
Post the realignment, shareholders of Future Retail will hold 49.8% in Future Lifestyle Fashions, shareholders of Future Ventures India will hold 30.5% and 19.7% will be held by Future Retail as a corporate entity.
Future Retail's net profit declined 54.51% to Rs 2.47 crore on 17.59% drop in net sales to Rs 911.46 crore in Q1 March 2013 over Q1 March 2012.
Future Retail, earlier known as Pantaloon Retail (India), is the flagship company of the Future Group. It has presence in 93 cities and 60 rural locations across the country through over 17 million square feet of retail space.
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