Piramal Enterprises is currently trading at Rs 707.00, up by 5.20 points or 0.74% from its previous closing of Rs 701.80 on the BSE.
The scrip opened at Rs 700.00 and has touched a high and low of Rs 710.00 and Rs 695.00 respectively. So far 8110 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 717.00 on 02-Jun-2014 and a 52 week low of Rs 476.00 on 25-Jun-2013.
Last one week high and low of the scrip stood at Rs 717.00 and Rs 608.40 respectively. The current market cap of the company is Rs 12200.21 crore.
The promoters holding in the company stood at 52.94% while Institutions and Non-Institutions held 30.57% and 16.48% respectively.
Piramal Enterprises has acquired 65,79,840 equity shares comprising 9.99% equity stake of Shriram City Union Finance, the retail focused non-banking financial company (NBFC) of the Shriram Group. The acquisition, by way of a preferential allotment of shares by Shriram City Union, was at a price of Rs 1,200 per equity share. The total consideration paid was Rs 790 crore.
Shriram City Union is among the more important players in the retail financing space, with Assets under Management of Rs 14,668 crore in March 2014. The company offers multiple loan products to small business owners and for acquiring assets such as two wheelers, commercial vehicles, passenger vehicles, consumer durables and homes. It also offers loans against gold ornaments and for personal consumption.
In April this year, Piramal had acquired an effective 20% equity stake in Shriram Capital, the overarching holding company for the financial services and insurance entities of the Shriram Group, for a consideration of Rs 2,014 crore. The company had also invested Rs 1,636 crore in May 2013 to acquire 9.9% equity in Shriram Transport Finance Company, one of the listed NBFCs forming part of the Shriram Group.
| Company Name | CMP |
|---|---|
| Bajaj Finance | 921.45 |
| Shriram Finance | 1010.75 |
| Aditya Birla Capital | 340.15 |
| Chola Invest & Fin. | 1568.70 |
| Tata Capital | 337.35 |
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