Future group shares in focus; Future Consumer surges 9%

Shares of Kishore Biyani-led Future Group companies have rallied by up to 9% after the world's biggest retail company Walmart Inc sealed a deal worth $16 billion for a majority of stake of 77% in India's e-commerce giant Flipkart on Wednesday.
Future Consumer has surged 9% to Rs 61.95 on the BSE on back of three-fold jump in trading volumes.

Future Market Networks (up 18% to Rs 148), Future Enterprises (17% at Rs 42.50), Future Retail (6% to Rs 609), Future Lifestyle (5% at Rs 479) and Future Supply Chain Solutions (3% at Rs 698) were up in the range of 3% to 18% on the BSE. On comparison, the S&P BSE Sensex was up 0.36% at 35,446 at 09:48 am.

In an interview with Surajeet Das Gupta of Business Standard, Kishore Biyani, chief executive officer of the Future group said that the group are open to strategic alliances with online players.

The eco-system will include offline and online retail, payments systems, logistics, insurance, healthcare and entertainment. Walmart has all this and Sam Club and also an alliance with Google. So they are also following the same strategy. In India we have the entire eco-system which include brands, factories, supply chain, logistics etc, said Kishore Biyani. CLICK HERE TO READ FULL REPORT