Retail stocks fell up to 6 per cent on BSE amid BJP saying no to foreign direct investment
Mumbai: Leading retail stocks today fell up to 6 per cent on the BSE amid the BJP saying no to foreign direct investment in the multi-brand retail sector.
Shares of Future Retail tanked a little over 6 per cent during the day. The scrip closed lower by 5.13 per cent. Another retailer Trent fell by 1.40 per cent on BSE. Shoppers Stop was down 0.90 per cent and Provogue lost 0.13 per cent.
The BJP in its manifesto released today said that it would keep foreign direct investment out of the key sector of multi-brand retail. On FDI, the party said barring the multi-brand retail sector, foreign investment would be allowed in sectors wherever needed for job and asset creation, infrastructure and acquisition of niche technology.
( Source : PTI )
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