Shares of two organized retailers rose 0.89% to 1.66% at 13:15 IST on BSE on reports the government is considering allowing foreign portfolio investors to own even a majority stake in retail companies.
Trent (up 1.66% at Rs 1,236.60) and Shoppers Stop (up 0.89% at Rs 510) gained.
Future Retail was flat at Rs 118.70.
Meanwhile, the S&P BSE Sensex was down 182.26 points or 0.67% at 27,083.06.
As per reports, the National Democratic Alliance (NDA), which is opposed to foreign direct investment (FDI) in supermarkets and department stores, or so-called multi-brand retail, is considering allowing foreign portfolio investors (FPIs) to own even a majority stake in retail companies. As part of its current discussions with various ministries, the department of industrial policy and promotion (DIPP), the nodal body that makes FDI policy, has proposed that the FDI ceiling of 51% in multi-brand retail trading be made a composite cap so that listed Indian supermarket chains can access foreign money from the capital market, reports added.
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