It was anticipated that the acquisition of Future Groups’ retail ventures would be a boost to Reliance Industries. Today, that assumption has become a fact.
Reliance Industry’s shares rose 2.7% since it was announced that Reliance Retail Ventures, led by Isha Ambani, will acquire future group’s retail brands including, FBB, Big Bazaar, Easyday, Central and Foodhall formats.
Analysts at Angel Broking said, “e believe that this acquisition by Reliance Industries Ltd. will help the company further consolidate its position in the retail business and make it the undisputed leader in the retail space. We remain positive on Reliance industries Ltd. and have a buy rating on the stock with a target of ₹2,366.”
— Mint (@livemint) August 31, 2020