Aditya Birla Fashion fails to join the retail rally

Pantaloons expansion gives hope for revival

Stocks of Aditya Birla Fashion and Retail (ABFRL) have not been a favourite on the bourses but brokerages remain bullish, hoping the network expansion of Pantaloons will bring growth.
 
Stocks of most retailers have surged in the current financial year. Future Retail and Avenue Supermart (D-Mart) rose 100 per cent and 74 per cent, respectively. But ABFRL has moved less than one per cent.
 
Despite this slow movement, CLSA has maintained a ‘buy’ on the stock in a note sent to its clients early this week. The brokerage, like some of its peers, said it was betting the