Future Retail, Future Enterprises hit upper circuit after Sebi clears deal with RIL

Shares of Future Retail and Future Enterprises rose nearly 5 per cent and hit upper circuit limits after Sebi cleared Future Group’s proposed multi-billion dollar deal with Reliance Industries Ltd.

On the BSE, Future Retail Ltd’s shares hit the upper circuit of Rs 81.35, rising 4.97 per cent over the previous close.

Future Enterprises Ltd’s stock gained 4.98 per cent to touch the upper circuit limit of Rs 12.01.

Meanwhile, Reliance Industries Ltd (RIL) was trading at Rs 2,114.8 during the late morning trade, rising 2.91 per cent.

On Wednesday, Sebi gave a go-ahead to Future Group’s scheme of arrangement and sale of assets to Reliance Industries.