Pantaloon surges on board nod for demerger of apparel retail biz

Pantaloon Retail (India) surged on Monday after Aditya Birla Group firm Peter England Fashions and company"s board approved the demerger of Pantaloon format business and fixed the share swap ratio at 1:5 - for every five shares of Pantaloon, shareholders will get one Peter England share. These developments mark a step closer towards Aditya Birla Group"s proposed acquisition of majority stake in Kishore Biyani-led group"s flagship Pantaloon format apparel retail business unit.Shares ofthe companyare trading at Rs 148.90, up Rs 5.35, or 3.73% at the Bombay Stock Exchange (BSE) on Monday at 11:38 a.m.The scrip has touched an intra-day high of Rs 151.50 and low of Rs 145.00. The total volume of shares traded at the BSE is 490,258.In the earlier session, the shares climbed 1.06%, or Rs 1.5, at Rs 143.55. Currently, the stock is trading down 51.97% from its 52-week high of Rs 310.00 and above 18.83% over the 52-week low of Rs 125.30.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 139.90 3.65 2.61 1 Month 153.80 (10.25) (6.66) 3 Months 163.75 (20.20) (12.34) 6 Months 161.95 (18.40) (11.36) 1 Year 289.00 (145.45) (50.33) Note: Based on previous day closing price.