Pantaloon Drops in Mumbai as 1.1% of Its Equity Changes Hands

Pantaloon Retail Ltd. (PF), India's biggest publicly traded retailer, fell to the lowest in more than two years in Mumbai trading as about 1.1 percent of its equity changed hands in two transactions.

The Mumbai-based company dropped 2.4 percent to 249 rupees, the lowest since July 28, 2006, as of 12:01 p.m. local time. The stock has declined 70 percent this year.

About 1.74 million shares and 90,120 shares were traded at 306.7 rupees apiece on the Bombay Stock Exchange at 11:22 a.m. local time, data available on Bloomberg showed.

Pantaloon Retail has gained an average 54 percent annually in the five years through Oct. 3, compared with a 24 percent yearly advance in the nation's benchmark Sensitive Index.

To contact the reporter on this story: Hemal Savai in Mumbai at at hsavai@bloomberg.net.

To contact the editor responsible for this story: Stephen Foxwell at at sfoxwell@bloomberg.net.

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