Post Reliance takeover, Future Group stocks are gaining great momentum today!
Future Enterprises, Future Retail and Future Lifestyle Fashions zoomed higher in the morning trade.
At 9.20 AM Future Enterprises had an opening move of 14.5 per cent north with an increase from the previous close of Rs 9.59 to Rs 11 today. They develops, owns, and leases the retail infrastructure for the Future Retail Group.
At 9.20 AM Future Retail had an opening move of 5 per cent with an increase from the previous close of Rs 49 to Rs 52. Future Retail engaged mainly in retailing of fashion, household and consumer products. Kishore Biyani is the founder and Group CEO of Future Group.
At 9.20 AM Future Lifestyle Fashions had opened 6 per cent up with an increase from the previous close of Rs 53.4 to Rs 56.65 today morning. It is an integrated fashion company with a presence across key segments within the fashion industry that is design to distribution.
Over the weekend, Relaince shut hundreds of Future stores and removed their signages in a bid to rebrand them as Reliance Retail outlets in the next few days. This was done after Future Group defaulted on rent payments for these locations to Reliance Retail.
Owing to this news Future group stocks are trading higher today.