Amazons stake buy sends Shoppers Stop up 20%
On September 23, Shoppers Stop stated that Amazons investment arm will acquire 5% stake in the company aggregating up to Rs 179.26 crore. Analysts are quite optimistic about the deal and the company in coming days.
Key Highlights:
- Shoppers Stop share price touch new high
- Amazon will acquire 5% stake in Shoppers Stop
- Shoppers Stop will sell about 43,95,925 equity shares to Amazon on preferential basis
While Sensex and Nifty were trading in negative on Monday, share price of Shoppers Stop jumped nearly 20%.
At 1025 hours, share price of Shoppers Stop was trading at Rs 483 per piece, up Rs 66 or 15.98% on BSE.
Mumbai-based retail company touched a new high of Rs 499.70 per piece - a level which was last seen on February 05, 2015.
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