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Mumbai, July 6 (PTI) The stocks of retail firms today soared as much as 5 per cent, led by Pantaloon Retail India, after the government pitched in for foreign direct investment in the sector. Shares of Pantaloon Retail settled up 4.84 per cent at Rs 441 on the Bombay Stock Exchange. During the day, the scrip soared to touch a 30-day high of Rs 445, up 5.78 per cent. The government today threw open a debate on opening up of the retail sector for foreign direct investment (FDI) saying it will not only help farmers earn more but also keep the price-line under check. The industry ministry today, in a discussion paper, said, "keeping in view the large requirement of funds for back-end infrastructure, there is a case for opening up of the retail sector to foreign investment." Provogue India closed at Rs 62.65, up 3.98 per cent on the BSE. During the trade shares of Provogue zoomed 5.22 per cent to touch a month high of Rs 63.40. Meanwhile, the BSE 30-share index Sensex settled up 173.04 points or 0.99 per cent to 17,614.48. The other retail stocks which settled in green are Shoppers Stop (2.02 per cent), Trent (3.19 per cent). However, Koutons Retail India slid 0.64 per cent to finish at Rs 319.90. The ministry has sought stakeholders'' comments by July 31. At present, FDI in multi-brand retail is prohibited in the country.
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