India's Future Group shares jump as Reliance plans retail business takeover
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Shares in Future Group companies surged on Monday following reports that India's top retailer Reliance Industries would take on at least 200 Future Retail stores after the debt-laden group failed to make lease payments for them to Reliance.
NSE Nifty 50 index ended up 0.81 per cent at 16,793.90, while the S&P BSE Sensex rose 0.70 per cent or 388.76 points to 56,247.28.
Future Enterprises said in January that it had decided to sell its 25% stake in Future Generali India Insurance Company to Generali.
A Mumbai city civil court has blocked Future Enterprises from selling its stake in its general insurance joint venture business with Italy's Generali