ASSOCHAM requests govt. to order re-opening of Reliance stores
ASSOCHAM requests govt. to order re-opening of Reliance stores The Associated Chambers of Commerce and Industry of India (ASSOCHAM) requested UP Chief Minister to order re-opening of Reliance (Q, N,C,F)* Fresh retail stores in Ghaziabad and Noida. It also requested Mukesh Ambani not to act in hurry to exit from UP as it will have wider repercussions, adversely hitting interests of consumers and farmers. >The Mukesh Ambani-led Reliance Fresh retail terminated services of 870 employees in Uttar Pradesh in an indication that it is winding up operations in the state. The company also shifted some of its logistics and commer cial staff from Uttar Pradesh to other states. The investment inflow in Uttar Pradesh would be adversely affected if the state government sticks to its decision to close Reliance Fresh outlets. It is in the interest of state and its consumers that orders are issued for re-opening of retail stores, otherwise the issue may get politicizsed.
Shares of the company were last trading up Rs 4.1, or 0.18%, at Rs 2,326.05. The total volume of shares traded was 236,635 at the BSE. (1.05 p.m, Thursday)
