Piramal Enterprises to raise Rs 500 crore via NCDs

Piramal Enterprise’s board of directors has approved a proposal through the issuance of non-convertible debentures (NCDs) to raise up to Rs 500 crore private placement basis.

Piramal Enterprises said in a BSE filing on Tuesday said that the NCD are proposed to be listed on the wholesale debt market segment of the NSE.

The stock of the company on the NSE at Rs 2,768.65 per share lower by Rs 51.85 per share or 1.84% on the NSE at 1422 hours. The stock has delivered 99% returns in a period of one year and has outperformed the BSE Sensex and BSE Healthcare indices over the same time span.

Piramal Enterprises Ltd (PEL) is the flagship company of the Piramal group and has a presence in healthcare and financial services verticals. The group has operations in over 30 countries.


Stock view :-

Piramal Enterprises Ltd is currently trading at Rs 2774.3, down by Rs 46.3 or 1.64% from its previous closing of Rs 2820.6 on the BSE.

The scrip opened at Rs 2831.05 and has touched a high and low of Rs 2838.4 and Rs 2758.1 respectively. So far 122254(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 48669.45 crore.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 3083.05 on 13-Jun-2017 and a 52 week low of Rs 1321.85 on 21-Jun-2016. Last one week high and low of the scrip stood at Rs 2987 and Rs 2813.15 respectively.

The promoters holding in the company stood at 51.43 % while Institutions and Non-Institutions held 31.15 % and 16.32 % respectively.

The stock is currently trading above its 50 DMA.

Piramal Enterprises Ltd :-
BSE 2,784.00 [36.60]    ([1.30]%)
NSE 2,782.80 [37.70]    ([1.34]%)


 

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