Pantaloon Fashions is on the hi-street today, currently up 6.5% at Rs.128.55, with an intra day high at Rs.130.

The stock is up in the green in anticipation – the Board of the company is meeting on 18^th July to consider the fund raising proposal(s) for the company, including rights issue. It is the prospect of the rights issue which has spiked up the stock price.