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Shares of Future Retail Ltd jumped as much as 6.2 per cent to Rs 519.7, in their biggest intraday percentage gain since May 25.
According to a media report, global tech giants Google and Amazon are in talks for a stake in the fast moving consumer goods company.
Google is looking to join forces with Alibaba-backed Paytm Mall to invest Rs 3,500 crore to Rs 4,000 crore ($499.36 million - $570.69 million) in Future Retail, the report said, citing people familiar with the matter.
According to another media report, separately, the Indian unit of Amazon has signed a term sheet to invest around $600 million-$700 million for 12-15 per cent stake in Future Retail. Future Retail has denied both the reports.
Google and Amazon were not immediately available for comment, while Paytm declined to comment. Over 718,600 shares of Future Retail changed hands, compared with 30-day average of 789,600 shares.
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