Pantaloons Fashion soars over 15% on tie-up with Flipkart

The stock has soared almost 20% to Rs 234, also its lifetime high, on the NSE.

Pantaloons Fashion & Retail has soared almost 20% to Rs 234, also its lifetime high on the NSE, after the company said that it has entered into a commercial arrangement with Flipkart, whereby products of the exclusive brands of the company will be sold through Flipkart.

In the past, the company had entered into such commercial arrangements with other service providers such as Jabong, Myntra and Trendin.

Pantaloons Fashion, which is engaged in apparel retail business, responded to a news article titled 'Pantaloons ties up with Flipkart' by clarifying that it keeps evaluating various channels and opportunities through which the products of the company can be retailed.

One such channel/ opportunity identified by the company is retailing of products by means of E-commerce, through various websites and platforms provided by various service providers purely on a commercial basis, the company added.

However, the company said that the estimated revenue from the said arrangement would be less than 10% of the total revenue of the company for the year.

At 11:27 AM, the stock was up 18% at Rs 230 on the NSE and has seen huge trading volumes. A combined 858,310 shares have changed hands on the counter so far compared to an average sub-300,000 shares that were traded daily in the past two weeks on the NSE and BSE.