Mumbai: Retail stocks on Thursday rose by up to over 10 per cent after the government got approval of Lok Sabha for FDI in retail.
     
Cheering the move, shares of Provogue India gained 10.11 per cent to Rs 19, while Shoppers Stop soared by 6.11 per cent to Rs 492 on the BSE.
     
Among others, Koutons Retail India jumped 4.94 per cent to touch an upper circuit limit of Rs 9.98, while Trent, promoted by the Tata group gained 3.94 per cent.
     
Pantaloon Retail climbed 5.94 per cent.
     
However, most of these stocks pared some of their initial gains in an overall weak stock market where the benchmark Sensex was trading at 19,219.53, down 172.33 points at 1113 hrs.
     
The government on Wednesday shook off the Opposition challenge on the FDI in retail issue by getting approval of the Lower House of Parliament after BSP and SP staged a walk out.
     
The FDI debate in Rajya Sabha has already begun on Thursday under a rule that entails voting.

(Agencies)

Latest News from Business News Desk