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04-Apr2018

Piramal Enterprises rises on getting nod to incorporate wholly owned subsidiaries

Piramal Enterprises is currently trading at Rs. 2518.85, up by 22.10 points or 0.89% from its previous closing of Rs. 2496.75 on the BSE.

The scrip opened at Rs. 2512.95 and has touched a high and low of Rs. 2523.00 and Rs. 2501.10 respectively. So far 102990 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 3,064.55 on 13-Jun-2017 and a 52 week low of Rs. 1,898.54 on 07-Apr-2017.

Last one week high and low of the scrip stood at Rs. 2524.95 and Rs. 2422.20 respectively. The current market cap of the company is Rs. 45314.49 crore.

The promoters holding in the company stood at 51.39%, while Institutions and Non-Institutions held 31.22% and 17.42% respectively.

Piramal Enterprises has received an approval to incorporate wholly owned subsidiaries for commencing the businesses of Merchant Banking for underwriting securities and placing the same with the potential investors and another business of Investment Manager & Sponsor of proposed Alternate Investment Fund(s) including schemes launched by the Fund(s) in the infrastructure sector, from time to time. The Board of Directors of the company at their meeting held on April 02, 2018, approved the same.

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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