Shoppers Stop will enter the e-commerce space

With an announcement that it will also sell food and books online, the shares of Shoppers Stop shot up by 4.06% intraday during Wednesday’s trading session. In an interview with a leading new agency, Govind Shrikhande, Managing Director, Shoppers Stop, said, “Hyper-City online will be available in markets where it has stores that will fulfill the orders. Trials began in Mumbai and will be extended to Bengaluru this year, Crossword, however, will have a national e-commerce footprint.” 
 
“Since we have already invested Rs 60 crore in the technology backbone for Shoppers Stop’s e-commerce venture, the incremental investment for taking Hyper-City and Crossword online will be not much,” he added.
 
Meanwhile, the stock was trading up by 1.65% at Rs 338 per share on the BSE at 1053 hours. It opened at Rs 344 per share and touched its intraday high and low at Rs 347 and Rs 338.95 per share, respectively. It attracted a total traded volume of 4,685 shares and traded value of Rs 16.01 lakhs on the NSE at 1055 hours. Its 52-week high stood at Rs 406.40 (October 26, 2016) and low was at Rs 268 (December 28, 2016) per share, respectively.