Future Retail trades with traction on the BSE

Future Retail is currently trading at Rs. 112.50, up by 1.60 points or 1.44% from its previous closing of Rs. 110.90 on the BSE. The scrip opened at Rs. 110.95 and has touched a high and low of Rs. 114.85 and Rs. 109.05 respectively. So far 642123 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 158.30 on 08-May-2013 and a 52 week low of Rs. 63.30 on 17-Dec-2013. Last one week high and low of the scrip stood at Rs. 114.85 and Rs. 84.25 respectively. The current market cap of the company is Rs. 2460.61 crore. The promoters holding in the company stood at 48.36% while Institutions and Non-Institutions held 29.25% and 22.39% respectively. Future Retail has decided mutually to call off the discussions and not to proceed with the proposed JV with Larsen & Toubro’s (L&T) general insurance subsidiary - L&T General Insurance (LTGI), due to inordinate delay in finalizing the transaction documents and obtaining permissions. Last year in March, the company was in talks for sale of partial stake to L&T and its other joint venture partner Participatie Maatschappij Graafschap Holland NV (which is a subsidiary of Assicuranzioni Generali S.P.A) in the merged entity to be created by aforesaid merger process. Future Retail (formerly known as Pantaloon Retail (India)) is India’s leading retail chain and part of Indian conglomerate Future Group. It operates retail space spread over 11 million square feet. It has a network of more than 1000 stores across 63 cities in India and has employee strength of 30,000 people.