Sensex Gains Over 170 Pts, Nifty Above 9950; Metal Stocks Rally - Dollar Advisory Financial Services

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Friday 6 October 2017

Sensex Gains Over 170 Pts, Nifty Above 9950; Metal Stocks Rally

Shares of Future Retail and Shoppers Stop rose 6-9 percent intraday on Friday as investors cheered the deal to buy HyperCity.

On Friday, Future Retail announced that it will acquire Shoppers Stop's loss-making retail chain HyperCity for Rs 655 crore in a part cash and part stock deal.

The deal, which is likely to be completed in the next three to five months, will see HyperCity Retail India Limited become a wholly-owned subsidiary of Future Retail.

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