Among individual stocks, Future Retail (Rs 57.50) and Future Supply Chain Solutions (Rs 80.75), Future Lifestyle Fashions (Rs 59.20), Future Enterprises (Rs 11.61) and Future Consumer (Rs 8.19) rallied 20 per cent each on the BSE in the intra-day trade. In comparison, the S&P BSE was down 1.5 per cent at 56,134 points at 09:28 AM. Despite today's surge, most of these stocks were down between 15 per cent and 35 per cent from their respective 52-week highs.
In its 57-page order, the competition watchdog said it considered necessary to examine the combination afresh, given that the two players were known in the online marketplace and offline retailing and had contemplated strategic alignment between their businesses.
In August 2019, Amazon acquired 49 per cent stake in Future Coupons, the promoter entity of FRL, for around Rs 1,500 crore. One year later, in August 2020, Future Group struck a $3.4-billion asset-sale deal with Reliance Industries (RIL). CLICK HERE FOR FULL REPORT
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