 "Shoppers Stop advances 5% as various fund houses buy stake via block deals")
Shoppers Stop shares gained 5 per cent in Thursday's trade, logging an intraday high at Rs 667.35 per share on BSE. The buying in the stock sparked after various fund houses bought stake in the company after Amazon exited via block deals.
Around 11:46 AM, Shoppers Stop share price was up 2.90 per cent at Rs 653.85 per share on BSE. In comparison, the BSE Sensex was down 1.08 per cent at 79,320.06. The market capitalisation of the company stood at Rs 7,193.05 crore. The 52-week high of the company stood at Rs 943.65 per share and the 52-week low stood at Rs 595 per share.
As per NSE block deal data, after Amazon exited by selling a 4 per cent stake in the company for Rs 276 crore, the fund houses stepped in.
Asset and wealth management company 360 One, through its four affiliates, acquired 6,44,645 shares in Shoppers Stop via multiple block deals.
Also, Kotak Mahindra Mutual Fund (MF) bought 9,56,022 shares, Tata MF bought 19,12,050 shares and Morgan Stanley also picked up 6,37,351
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shares in the department store chain at the same price of Rs 627.6 per share.
Shoppers Stop, established in 1991, is one of India's leading department store chains, offering a wide range of premium products including apparel, beauty items, accessories, and home goods. Known for its customer-centric approach, the company has over 80 stores across major cities in India and a growing online presence. Shoppers Stop features both international and national branded merchandise as well as private label brands like Life, Stop, and Triumph.
The brand has established a successful loyalty program, First Citizen, to strengthen customer engagement. Embracing omnichannel retailing, it provides customers with a seamless shopping experience both online and offline. With a commitment to sustainability, Shoppers Stop also focuses on eco-friendly initiatives and reducing its environmental footprint. Listed on the BSE and NSE, the company remains a key player in India’s organized retail sector, continuing to expand and innovate in the ever-evolving retail landscape.
In the past one year, Shoppers Stop shares have lost 6.6 per cent against Sensex's rise of 12 per cent.