RIL Stocks Down 2% as Future Retail Deal Stalled

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The Indian stock market traded on a negative note with the BSE Sensex down over 100 points.

The Nifty50 on the National Stock exchange also traded below the 12,000-mark.

Heavy selling was witnessed in metal and auto stocks.

Around 10.40 a.m., Sensex was trading at 40,580.60, lower by 104.90 points or 0.26 per cent from the previous close of 40,685.50.

It opened at 40,649.76 and has so far touched an intra-day high of 40,724.40 and a low of 40,495.45 points.

The Nifty50 was trading at 11,898.00, lower by 32.35 points or 0.27 per cent from its previous close.

Shares of Reliance Industries and Future Retail declined after a Singapore arbitration court temporarily stalled the RIL’s buyout deal of Future Group’s retail business.

Shares of RIL on the BSE were at Rs 2,070.80 per share, lower by Rs 41.75 or 1.98 per cent from its previous close.

The stock price of Future Retail on the BSE was at Rs 73.80, lower by Rs 4 or 5.14 per cent from its previous close.

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

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