Shoppers Stop,trent,pantaloon Shares Hit 52-Week High Ahead Of Fdi Vot

[cherlapalli_jailer]

[size=4][color=#333333][font=Arial, Helvetica, sans-serif][background=rgb(228, 232, 232)]Shares in big retail chains saw strong buying interest on Wednesday on optimism that the government will win a crucial vote on foreign direct investment in multi-brand retail in parliament due later today. The Nifty hit its highest level since April 2011 earlier in the day.[/background][/font][/color]

[color=#333333][font=Arial, Helvetica, sans-serif][background=rgb(228, 232, 232)]Shoppers Stop jumped over 12 per cent to [/background][/font][/color][color=#333333][font=RupeeForadianRegular][background=rgb(228, 232, 232)]Rs.[/background][/font][/color][color=#333333][font=Arial, Helvetica, sans-serif][background=rgb(228, 232, 232)] 494, a new 52-week high for the stock.[/background][/font][/color]

[color=#333333][font=Arial, Helvetica, sans-serif][background=rgb(228, 232, 232)]Trent, promoted by the Tata group, gained over 8.5 per cent to [/background][/font][/color][color=#333333][font=RupeeForadianRegular][background=rgb(228, 232, 232)]Rs.[/background][/font][/color][color=#333333][font=Arial, Helvetica, sans-serif][background=rgb(228, 232, 232)]1,324.80, a new year-high high for the stock.[/background][/font][/color]

[color=#333333][font=Arial, Helvetica, sans-serif][background=rgb(228, 232, 232)]Pantaloon Retail, the biggest among retailers, advanced over 5 per cent to [/background][/font][/color][color=#333333][font=RupeeForadianRegular][background=rgb(228, 232, 232)]Rs.[/background][/font][/color][color=#333333][font=Arial, Helvetica, sans-serif][background=rgb(228, 232, 232)] 243.90 - a new 52-week high for the stock.[/background][/font][/color]

[color=#333333][font=Arial, Helvetica, sans-serif][background=rgb(228, 232, 232)]The government opened its doors to foreign retailers in September as part of a package of measures to stave off a looming credit rating downgrade, cut a swelling fiscal deficit and revive the country's investment climate.[/background][/font][/color]

[color=#333333][font=Arial, Helvetica, sans-serif][background=rgb(228, 232, 232)]While it doesn't need parliament's approval, defeat would be embarrassing and the government would come under pressure to roll back a policy that critics say would squeeze existing retailers and cost jobs.[/background][/font][/color]

[color=#333333][font=Arial, Helvetica, sans-serif][background=rgb(228, 232, 232)]A win, however, would help the government stick to the reforms agenda needed to take the economy out the rut.[/background][/font][/color][/size]