Retail in Asia

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Retail stocks up following IKEA clearance

Stocks of listed retail companies such as Pantaloon, Shopper’s Stop and Trent were up in morning trade on Tuesday on the Bombay Stock Exchange (BSE) following Foreign Investment Promotion Board (FIPB) clearance received by Swedish major IKEA for its Rs 10,500 crore (USD) investment in the country. This is the largest investment proposal in the single brand retail category so far.