Future Retail dropped 8.2% to Rs 147.15 at 10:25 IST on BSE after shares turned ex-scheme of arrangement today, 17 April 2013.
Meanwhile, the S&P BSE Sensex was down 8.38 points or 0.04% at 18,736.55.
On BSE, 15.41 lakh shares were traded in the counter as against average daily volume of 8.07 lakh shares in the past one quarter.
The stock hit a high of Rs 152 and a low of Rs 136.30 so far during the day. The stock had hit a 52-week high of Rs 275.75 on 22 January 2013. The stock had hit a 52-week low of Rs 126.50 on 18 May 2012.
The stock had underperformed the market over the past one month till 16 April 2013, sliding 9.36% compared with the Sensex's 3.51% fall. The scrip had also underperformed the market in past one quarter, declining 34.73% as against Sensex's 5.41% slide.
The mid-cap company has equity capital of Rs 46.31 crore. Face value per share is Rs 2.
Future Retail shares turned ex-scheme of arrangement today, 17 April 2013. Ahead of turning ex-scheme of arrangement, shares of Future Retail had surged 11.66% in two trading days to Rs 160.30 on 16 April 2013 from a recent low of Rs 143.55 on 12 April 2013.
As per scheme of arrangement, shareholders of Future Retail as on record date of 18 April 2013 will receive one equity share of Rs 10 each of Peter England Fashions & Retail (PEFRL) for every five shares of Rs 2 held by them.
The scheme of arrangement between Pantaloons Retail (India), now known as Future Retail (PRIL), and Peter England Fashion and Retail (PEFRL), and their respective shareholders and creditors and Indigold Trade and Services as shareholder of PEFRL was sanctioned by the Hon'ble High Court of Bombay on 1 March 2013.
The board of directors of PEFRL at its meeting held on 8 April 2013 declared the scheme effective with effect from 8 April 2013. Accordingly, the Pantaloons Fashion Retail Business of PRIL has been transferred by way of demerger to PEFRL.
Future Retail reported consolidated net loss of Rs 11.97 crore in the quarter ended 31 December 2012, higher than net loss of Rs 7.96 crore in the quarter ended 31 December 2011. Net sales rose 1.03% to Rs 3129.54 crore in the quarter ended 31 December 2012 over the quarter ended 31 December 2011.
Future Retail, earlier known as Pantaloon Retail (India), is the flagship company of the Future Group. It has presence in 93 cities and 60 rural locations across the country through over 17 million square feet of retail space.
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