Retail stocks slump over Samajwadi Party's opposition to FDI in multi-brand retail

Retail stocks slipped sharply in trade Monday on the back of continued opposition to Foreign Direct Investment (FDI) by the Samajwadi Party, which has emerged as a key ally of the ruling UPA coalition. Samajwadi Party, Left parties and JD(S) shot off a joint letter to Prime Minister Manmohan Singh asking the government not to open up retail trade to Foreign Direct Investment (FDI) any further Sunday.Provogue India shares fell 5.5 per...