Future Group Stocks: In the legal battle between Amazon and Reliance, shares of Future Group are seeing heavy losses. From Future Retail to Lifestyle Fashion Ltd. The shares of Tak are falling every day. Shares of Future Retail fell up to 15 per cent to reach Rs 30 on Tuesday. Earlier on Monday too, the stock of Future Retail saw a huge fall. The stock had lost 10% on Monday. Shares of Future Retail have fallen up to 32.10% in five trading sessions. At the same time, the company’s shares have fallen by 36% in a month.
The condition of these companies of Future Group is also bad
Apart from Future Retail, the stock of Future Lifestyle Fashion Limited saw a decline of 12.52% today, the company’s shares closed at 32.50. Similarly, Future Consumer Ltd fell 12.07% per cent, Future Supply Chain Solutions 13.09% per cent and Future Enterprises Ltd 10.76% per cent.
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The effect of this news
In fact, last week, Future Retail Limited (FRL) accused Reliance Industries of forcibly taking over the store. Future Retail told stock exchanges, “Several media reports and public notices have been issued by Amazon stating that Future Retail Limited has handed over the retail assets of FRL to Reliance in contravention of the orders of the Tribunal and the Supreme Court. . This is factually wrong.” Future said that FRL has not handed over the stores to Reliance.
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In early February, Reliance Retail took over operations of at least 300 FRL stores and offered jobs to its employees. Reliance Retail had taken this step after the shop owners of Biyani Group did not pay rent. After this Amazon accused Reliance and Future Group of ‘fraud’. After this news, the company’s stock has seen a huge decline.