With an expected inflow of Rs 15-18 crore on account of brand selling, Pantaloon Fashions stock has moved from Rs 10.7 on May 6 to Rs 27.2 on June 21. The scrip hit the upper band of filter to close at Rs 27.2 on Monday as against Friday's close of Rs 25.2. The company has decided to put its `John Miller' brand on the block. The brand is likely to fetch Rs 15-18 crore.

The company plans to use the proceeds from the selling of the brand to expand its retailing business. At present, Pantaloon has 50 franchisee stores on lease. Analysts feel the company's decision to sell the brand is a wise decision as the company does not have much financial muscle to fight bigger companies.

Earlier, the company was said to be in talks with private equity funds for picking up a stake in the company. The funds were supposed to be used for expansion. With the talks failing, marketmen feel the company has put its most famous brand on the block.

The company hasrecently set up a state-of-the-art trouser manufacturing plant in Mumbai with a capacity of 1,200 pieces per day. This plant is expected to commence operations by the end of the year. Most of the production at its plant will be sold in the European market for which the company will be entering into marketing arrangement with leading retailers there.

For the nine-month period ended March 1999 the company earned a net profit of Rs 1.69 crore as against Rs 2.2 crore reported for 15 month period ended June 30, 1998.