Piramal Enterprises zooms after its arm acquires 100% stake in PRL Agastya

Piramal Enterprises is currently trading at Rs. 913.15, up by 43.10 points or 4.95% from its previous closing of Rs. 870.05 on the BSE.

piramal enterprises rises on completing repurchase of ncds
Piramal Enterprises

The scrip opened at Rs. 870.05 and has touched a high and low of Rs. 922.55 and Rs. 870.00 respectively. So far 129357 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 1,586.75 on 05-Jan-2022 and a 52 week low of Rs. 785.00 on 18-Nov-2022.

Last one week high and low of the scrip stood at Rs. 922.55 and Rs. 838.40 respectively. The current market cap of the company is Rs. 21720.78 crore.

The promoters holding in the company stood at 43.48%, while Institutions and Non-Institutions held 39.91% and 16.60% respectively.

Piramal Enterprises’ wholly owned subsidiary — Piramal Capital & Housing Finance (PCHFL) has acquired 100% stake in PRL Agastya.

Consequent to which, PRL Agastya is a wholly owned subsidiary of PCHFL. The main aim of acquisition is to acquire office space.

PRL Agastya has a ready to occupy office building as well as development potential for further space.

This will help take care of current as well as future office space requirements of the Company and its subsidiaries.

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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