Pantaloon Shares Hit Circuit Filter As Birla Rejigs Business
Shares in Pantaloons Retail hit the circuit filter after the Aditya Birla group decided to merge Madura Fashion and Lifestyle Division with it.
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. BSE 1887.30 (0.00%) NSE 1887.050 (0.00%)
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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Story first published: Monday, May 4, 2015, 14:45 [IST]