The stock soared 12.06 per cent to settle at Rs 129.65 on BSE after surging 18.4 per cent to Rs 137.
On NSE, it climbed 11.84 per cent to close the day at Rs 129.40.
The company's market capitalisation went up Rs 542.59 crore to hit Rs 5,034.59 crore.
On the volume front, 18.16 lakh shares were traded at BSE and over 93 lakh shares changed hands at NSE during the day.
Stock of Future Lifestyle Fashions rose 6.08 per cent to end at Rs 81.95.
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In a major consolidation between two home-grown retailers, Kishore Biyani-led Future Group will hive off its retail business to merge it with Bharti Retail.
The board, at its meeting today, approved the demerger, Future Retail said in a filing to BSE.
Furthermore, as part of the deal, retail infrastructure business of Bharti Retail will also be hived off from the company to be merged into Future Retail, it added.
Bharti Retail will issue one equity share of Rs 2 each for every Future Retail share of Rs 2.
In the broader market, the BSE 30-share Sensex ended the day with a gain of 479.28 points at 27,490.59.