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Indian company Future Group sees stocks jump 345%
Stocks of Kishore Biyani-led Future Group have been soaring high so far this year, on the back of a recovery in urban consumption, and expectations of reforms that will likely boost retail-focused sectors.
Stocks of Future Retail Ltd, which has various segments such as small stores network Easyday, supermarket chain Big Bazaar, fashion retailer fbb, and more, have jumped 345.7% so far this year.
“There is a recovery in urban discretionary consumption. That has been aided further by demonetisation and GST (goods and services tax), as the consumers opted for stores which accepted digital payments, compared to the unorganized sector,” said Abneesh Roy, a research analyst with Edelweiss Securities Ltd. Roy tracks Future Lifestyle and Future Retail stocks from the pack.
Roy said that grocery retail space had seen consolidation, and Future Retail has been at the forefront of such action, snapping up major acquisitions, including Easyday from the Bharti Group and N. Chandrababu Naidu-owned Heritage Foods in 2016.
Publication date: 9/12/2017
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