Piramal Enterprises rises on getting nod from shareholders to demerge pharmaceuticals business

Piramal Enterprises is currently trading at Rs. 1718.70, up by 7.50 points or 0.44% from its previous closing of Rs. 1711.20 on the BSE.

piramal enterprises rises on completing repurchase of ncds
piramal enterprises rises on completing repurchase of ncds

The scrip opened at Rs. 1740.00 and has touched a high and low of Rs. 1742.30 and Rs. 1715.85 respectively. So far 4091 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 3013.00 on 07-Oct-2021 and a 52 week low of Rs. 1561.00 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 1742.30 and Rs. 1625.20 respectively. The current market cap of the company is Rs. 41218.41 crore.

The promoters holding in the company stood at 43.49%, while Institutions and Non-Institutions held 43.47% and 13.04% respectively.

Piramal Enterprises has received approval from the shareholders to demerge its pharmaceuticals business and simplify the corporate structure. The said demerger will divide the company into two focused entities – financial services and pharmaceuticals.

Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services.

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