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Why Future Group shares tanked up to 10% in trade today



19 Mar 2021

Future Group stock news: Shares of Kishore Biyani-led Future Group companies fell up to 10%; Future Enterprises declined 9.32%, Future Consumer fell 9.96 percent, and Future Lifestyle Fashions 9.99 per cent lower circuit. Shares in Future Retail tumbled 9.99 per cent and Future Supply Chain Solutions dropped 5 per cent

Future Group shares tanked up to 10% in trade today after the Delhi High Court on Thursday upheld the Singapore International Arbitration Centre's order restraining Future Retail from going ahead with its Rs 24,713 crore deal with Reliance Retail to sell its business, which was challenged by US-based e-commence giant Amazon.

The bench of Justice JR Midha held that Kishore Biyani-led Future Group wilfully violated Singapore Arbitrator's order and directed it not to take further any action on the deal, reported PTI.

While share of Future Consumer was down 9.96% at Rs 6.42, Future Lifestyle share hit a fresh 52-week low, falling 9.99% to Rs 64.85 on BSE.

Future Consumer share is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has lost 18.84% in the last 6 days. The stock has lost 38.86% in one year and fallen 24.56% since the beginning of this year.

Why Future Retail shares hit 10% lower circuit in opening trade

Future Lifestyle stock has lost 17.39% in the last 6 days. The stock opened with a loss of 9.99% today. Share of Future Lifestyle has lost 68.79% in one year and fallen 25.37% since the beginning of this year. Share of another Future Group firm Future Retail fell to a fresh 52 week low of Rs 55.85, declining 9.99% to Rs 55.85 on BSE.

The stock opened with a loss of 9.99% today. Future Retail share is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has lost 18.88% in last 6 days.

Future-RIL deal: Delhi HC halts Rs 24,713 crore acquisition; orders attachment of Biyani's assets

Future Retail stock has lost 52.83% in one year and fallen 29.03%  since the beginning of this year.

Share of Future Enterprises fell 9.32% to Rs 8.66 on BSE. The stock has  lost 15.29% in the last 5 days.  Future Enterprises share is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Future Enterprises share has lost 20.91% in one year and gained 24.7% since the beginning of this year.

Future Group urges Singapore court to review ruling in Amazon case

Share of another Future Group firm Future Supply Solutions was down 5% in trade today. Future Supply stock has lost 12.93% in the last 5 days. Future Supply share is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The high court imposed a cost of Rs 20 lakh on the Future Group and others associated with it and directed them to deposit the amount in Prime Minister's Relief Fund within two weeks for providing COVID-19 vaccines to senior citizens of Below Poverty Line (BPL) category.

Amazon had sought direction to order enforcement of the award by Singapore's Emergency Arbitrator on October 25, 2020, restraining Future Retail from going ahead with its Rs 24,713 crore deal with Reliance Retail.