Shares of Shopper's Stop jumped as a media report said that Future Group is in talks to buy HyperCity.

The stock jumped as much as 4.8 per cent to its highest since August 6, 2015.

Future Group is in talks to buy grocery retailer HyperCity, an unit of Shopper's Stop, a media report said, citing people with knowledge of the development.

Future Group and Shopper's Stop were not immediately available for comments.

A deal will help Shopper's Stop will reduce debt loads though it would depend on the details of the deal, said Abneesh Roy, Senior Vice-President of Edelweiss Securities.

Up to Friday's close, shares of Shopper's Stop had risen about 43 per cent this year.