Retail shares gain on Cabinet nod for 100% FDI in single brand retail

Shares of retail companies have rallied by up to 8% after the media report suggested that the Cabinet cleared 100% foreign direct investment (FDI) through automatic route in single brand retail trading.
 

Monte Carlo Fashions, Future Consumer, Indian Terrain Fashions, Zodiac Clothing Company, V-Mart Retail and Future Market Networks were up in the range of 4% to 9% on BSE. The S&P BSE Sensex was trading 0.22% lower at 34,367 points at 01:38 PM.

The Cabinet has also approved some changes to FDI in the aviation sector, according to TV reports. FDI norms have also been liberalised for power