Shares of Future Group companies tumbled again on Tuesday on increasing concerns that the group faces bankruptcy risk, despite a surge in benchmark indices and broader Asian stocks trading higher.
Shares of Future Group firms on Monday faced heavy drubbing, tanking up to 20 per cent after Reliance Industries said its Rs 24,713-crore deal to acquire Future Group's assets could not be implemented after secured creditors of the Kishore Biyani-led companies voted against the proposal.
Shares in Future Group companies surged on Monday following reports that India's top retailer Reliance Industries would take on at least 200 Future Retail stores after the debt-laden group failed to make lease payments for them to Reliance.