Future Group firms hits 5% upper limit on hopes RIL deal could be clinched soon
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Mumbai, Aug. 19 -- Shares of Future Group companies hit their upper circuit of 5% on Wednesday as investors hoped that a deal with Reliance Industries Ltd (RIL) could be expedited after Reliance Retail Ventures Ltd, a subsidiary of Reliance Industries, acquired online pharmacy Netmeds.
Future Group is considering selling stakes in its retail arm, Future Retail and other units to Reliance Industries Limited (RIL).
Shares of Future Enterprises, Future Market Networks, Future Consumer, Future Lifestyle Fashions and Future Supply Chain hit the upper circuit of 5% on the BSE. Shares of Future Retail gained 19% to Rs.118.80.
In March, Future Group promoter Kishore Biyani had defaulted on loans, and various rating agencies had downgraded cred...
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