Future Retail up by 3 per cent on increased investment limit by RPFI

The share price of Future Retail gained on the bourses by 3.4 per cent in Tuesday’s trade as RBI increased the limit investment by Registered Foreign Portfolio Investors (RPFIs).

The apex bank announced that the limits for the investment in the equity share capital of the company by RPFI including Foreign Institutional Investors (FIIs) has been increased from 24 per cent earlier to up to 49 per cent of the paid up capital of the company, on Monday.

The company had posted a net profit of Rs. 183.14 crore in the third quarter of FY18 against a net profit of Rs. 101.05 crore in the previous quarter of the fiscal year 2018. The share price of the company had surged by over 97 per cent in the past one year. The stock has recorded a surge of 2.31 per cent in the past one month.

The company recorded an intraday high of Rs. 544.95 per share and an intraday low of Rs. 530.05 per share on BSE on Tuesday. The stock had touched its 52-week high of Rs. 639.54 per share on November 27, 2017 and its 52-week low of Rs. 233.53 per share on March 23, 2017 on BSE, respectively.

At 1242 hours IST, the stock was trading at Rs. 534 per share, higher by 1.33 per cent on BSE on Tuesday. Meanwhile, S&P BSE Sensex was trading at 33,044 level, higher by 0.37 per cent and NSE Nifty50 was trading at 10,139.10 level, higher by 0.44 per cent.