Pantaloons Fashion shares surge 4% on bourses

Shares of Pantaloons Fashion & Retail today rose by 4 per cent after the company said its board will consider fund-raising proposals, including a rights issue, on Friday.

The stock ended at Rs 125.55, up 3.98 per cent on the BSE. In intra-day, it surged 7.66 per cent to Rs 130.

At the NSE, the scrip gained 3.85 per cent to Rs 124.20.

In a filing to BSE yesterday, Pantaloons Fashion had said a meeting of the Board of Directors of the company willbe held on July 18, 2014, inter-alia to consider the fund raising proposal(s), including rights issue.

The company made the announcement after market hours yesterday.
 

In the broader market, the BSE benchmark Sensex ended at 25,549.72, up 321.07 points.