Future Group stocks hit 52-week lows as FRL clarifies on RIL takeover

Future Retail on Wednesday said that it was committed to taking all actions necessary to seek value adjustments and reversal of takeover of stores by the Reliance group.

Shares of Kishore Biyani-led Future Group companies tanked up to 19 per cent, hitting respective 52-week lows on the BSE in Thursday’s intra-day trade after Future Retail (FRL) said on Wednesday that it was committed to taking all actions necessary to seek value adjustments and reversal of takeover of stores by the Reliance Group.

Moreover, the Supreme Court also lifted a January 5 stay by the Delhi High Court on the Singapore Arbitration Tribunal Centre (SIAC) in the hearing of the case between Amazon and the Future Group.

Future Retail (down 9 per cent at Rs 38.40), Future