Future Retail slumps to new low
Future Retail slumps to new low
By Research Desk
about 13 years ago
The big loser on the BSE currently is Future Retail, which is down almost 18% at Rs.120.55 and this is a tad better after it hit a new 52-week low at Rs.118.30. Volumes have almost doubled up to almost 11.5 lakh shares.
The stock is down today as it has turned ex-scheme arrangement tfrom today. As per the scheme, shareholders are to get 1 fully paid equity share of Rs.2 each of Future Lifestyle Fashions for every 3 equity share of Rs.2 each held in Future Retail. Also, a shareholder will receive one fully paid equity share of Rs.2 each of Future Lifestyle Fashion for every 3 Class B (Series-1) shares of Rs.2 each held in Future Retail. The record date for this scheme of arrangement is set at 24th June’13.