Stock market news: Future Retail shares dip 5%

Stock market news: Future Retail shares dip 5%
ETMarkets.com
Synopsis

A total of 208,968 shares changed hands on the counter till 11:43AM (IST).

Future Retail shares quoted a 52-week high of Rs 415.05 and a 52-week low of Rs 61.05.

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NEW DELHI: Shares of Future Retail Ltd. traded 4.99 per cent down in Friday's trade at 11:43AM (IST). Around 208,968 shares changed hands on the counter.

The counter opened at Rs 112.45 and touched an intraday high and low of Rs 112.45 and Rs 112.45, respectively, in the session so far. The stock of Future Retail Ltd. quoted a 52-week high of Rs 415.05 and a 52-week low of Rs 61.05.

Future Retail is scheduled to announce its June quarter earnings on Friday. Total market cap of the Future Retail Ltd. stood at Rs 6097.07 crore at the time of writing this report.

Key Financials
The company reported consolidated net sales of Rs 5193.19 crore for the quarter ended 31-Dec-2019, down 4.7 per cent from previous quarter's Rs 5449.06 crore and down 3.26 per cent from the year-ago quarter's Rs 5368.46 crore.

The net profit for latest quarter stood at Rs 165.18 crore, down 16.36 per cent from the corresponding quarter last year.

Shareholding pattern
As of 30-Jun-2020, domestic institutional investors held 3.6 per cent stake in the company, while foreign institutional investors held 10.98 per cent and the promoters 41.73 per cent.

Valuation ratio
According to BSE data, the stock traded at a price-to-earnings multiple of 8.83 and a price-to-book ratio of 1.47. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Future Retail Ltd. belongs to the Supermarkets industry.
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