Pantaloon Shares Hit Circuit Filter As Birla Rejigs Business

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Shares in Pantaloons Retail hit the circuit filter after the Aditya Birla group decided to merge Madura Fashion and Lifestyle Division with it.

Pantaloon Shares Hit Circuit Filter As Birla Rejigs Business
Aditya Birla Nuvo: Quotes, News
BSE 1373.60BSE Quote13.95 (1.02%)
NSE 1371.70NSE Quote14.1 (1.03%)
The group has said that the restructuring would take place by carving out Madura Fashion from Aditya Birla Nouvo and merging the same with Pantaloon Fashion And Retail.

Madura has some very famous brands including the likes of Louis Phillipe and Van Heusen. The merger may create synergies for the group.

The shares of Aditya Birla Nouvo were also higher at Rs 1450 on the National Stock Exchange.

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