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Sunday, December 11, 2011

Retail stocks losing the sheen



With government wilting against unanimous protest from the opposition and its own allies on the controversial issue of introducing FDI into multi-brand retail, readymade companies’ stocks which have witnesses a steep rise in the recent past declined succumbing to the selling pressure.
Congress led UPA has officially postponed the specter of   ‘FDI in retail ‘at least for couple of months to come. Political-experts attribute this deferment to the coming assembly election in UP (Uttar Pradesh).
Though, government shall continue with its plan of hiking FDI in ‘single brand retail’ to 100% from existing 51%.
As market doesn’t like uncertainty, retail players lost what they have achieved in the recent past.
Vishal Retail, Pantaloon Retail and Koutons were the major losers each witnessing the price erosion in excess of 20%.


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