Future Retail Ltd.

NSE: FRETAIL | BSE: 540064 | ISIN: INE752P01024 |Industry: Department Stores
|Weak Stock
73.80 -4.00 (-5.14%)
NSE Oct 26, 2020 15:31 PM
Volume: 4.8M
 

Future Retail Ltd.    
07 Sep 2020
73.80
-5.14%
Prabhudas Lilladhar
Post declaration of Future Group deal with Reliance Retail, we had given a call of sell on rallies (link to note). FRL shareholders in this deal will get shares of FEL which will have businesses like Consumer brands, Apparel Manufcaturing, Food park, Stake in Insurance ventures etc. we believe massive equity dilution in FEL (Rs12.26bn shares) and little profitability, makes the risk reward unfavorable. We believe FRL is no more a play on structural growth story of organised retail in India. we recommend exit from FRL and drop coverage on the stock....
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FII/FPI have decreased their holdings by 6.59% of holdings in Sep 2020 qtr.
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