Fund managers buying Future Retail

After a few dull months, Future Retail has risen sharply since mid-November. The immediate trigger is the company’s mega plans called Retail 3.0, which was announced with its 30-year vision earlier this week. The plan, among others, envisages opening of 10,000 Easyday members-only stores by 2022. Market players say a couple of leading fund managers have been quietly accumulating the stock for the past few trading sessions. The stock has risen from ~467 to ~653, around 40 per cent since mid-November. On Friday, the stock surged 10 per cent.