Retail stocks in limelight

Retail stocks have jumped for the second straight day on hopes of GST finally being rolled out soon by the government.

Finance Minister, while presenting the Budget for 2012-13 did not give out any fixed time-frame for rolling out the Goods and Services Tax. However, according to reports, analysts feel that it might not be too far away.

He said drafting of model legislation for central and state GST is in progress as the government awaits the recommendations of the standing committee of Parliament on the Constitution Amendment Bill.

Shoppers Stop has gained 5.7% to Rs 388 this morning after touching a high of Rs 411. The stock had surged 7.6% to end at Rs 367 on Friday. Around 4,46,000 shares have been traded on the BSE so far today, as against a two week daily average of 74,000 shares.

Pantaloons Retail is up 1% at Rs 157 on reports that the company will become debt–free in a year. The stock touched a high of Rs 160 this morning.