Retail stocks jump to new 52-week high

With the Government securing the Lok Sabha nod for FDI in multi-brand retail, the shares of prominent retail players on the NSE surged, some to a new 52-week high, in the morning trade today.

Though these counters witnessed a huge volume of trading even within 30 minutes of trading, they were not able to hold on to their gains.

Pantaloon Retail India hit a fresh 52-week high of Rs 257.80 but ceded much of its gains to trade around Rs 242.30, a gain of Rs 4.65. The counter witnessed a trading of 61.20 lakh shares within 30 minutes of trading.

Trent Ltd was another retail stock in limelight, climbing to a new yearly high of Rs 1,328 but moved down to Rs 1,290 with a trading volume of about 23,000 shares.

Shoppers Stop s urged to a new yearly high of Rs 496.90 but this stock too lost some of its gains to trade at Rs 478, a gain of Rs 13.30. The trading volume was 3.63 lakh shares.

Kolkata-based CESC , to which the retail chain Spencer's belongs, was up marginally at Rs 321.05, a gain of Rs 1.95, with the trading volume being around 72,000 shares.

Kuotons Retail gained 45 paise to Rs 9.90 and this counter too witnessed a high trading volume of 1.22 lakh shares within minutes of commencement of trading.