Future Enterprises rose 2.48% to Rs 16.50 at 11:07 IST on BSE after the company sold its entire stake in Future Lifestyle Fashions to another promoter entity via bulk deal mechanism on the NSE yesterday, 26 December 2016.
Shares of Future Lifestyle Fashions fell 1.24% at Rs 119.10.
Meanwhile, the S&P BSE Sensex was up 121.75 points or 0.47% at 25,928.85.
On the BSE, 29,000 shares of Future Enterprises were traded on the counter so far as against the average daily volumes of 3.39 lakh shares in the past one quarter. The stock had hit a high of Rs 16.85 and a low of Rs 16 so far during the day.
The stock had hit a 52-week high of Rs 28.55 on 26 May 2016 and a 52-week low of Rs 14.20 on 9 November 2016. It had outperformed the market over the past one month till 26 December 2016, sliding 0.62% compared with the Sensex's 1.94% fall. The scrip had also outperformed the market in past one quarter, advancing 0.94% as against the Sensex's 8.79% fall.
The small-cap company has equity capital of Rs 86.64 crore. Face value per share is Rs 2.
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Future Enterprises sold 3.05 crore shares of Future Lifestyle Fashions to Future Corporate Resources at Rs 123 per share in a bulk deal on the NSE yesterday, 26 December 2016. With this transaction, Future Enterprises sold off its entire stake of 16.09% in Future Lifestyle Fashions (holding as on 30 September 2016). Future Corporate Resources held 17.04% stake in Future Lifestyle Fashions as on 30 September 2016.
Future Enterprises reported net loss of Rs 33.85 crore in Q2 September 2016 as against net profit of Rs 32.48 crore in Q2 September 2015. Net sales declined 69.3% to Rs 935.25 crore in Q2 September 2016 over Q2 September 2015.
Future Enterprises is into retail infrastructure business after demerging retail business into Bharti Retail.
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