Piramal Enterprises is currently trading at Rs. 712.50, up by 10.60 points or 1.51% from its previous closing of Rs. 701.90 on the BSE.
The scrip opened at Rs. 704.95 and has touched a high and low of Rs. 713.00 and Rs. 704.95 respectively. So far 3114 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 791.00 on 03-Jul-2014 and a 52 week low of Rs. 482.65 on 26-Nov-2013.
Last one week high and low of the scrip stood at Rs. 791.00 and Rs. 689.00 respectively. The current market cap of the company is Rs. 12284.77 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, which sells drugs and financial services, has earmarked Rs 5,000 crore ($837 million) for projects, which have been jeopardized by an economy struggling through its longest period of sub-5% growth since the 1980s.
The conglomerate mainly is hunting for road projects since it is of the view that infrastructure is likely to be one of the more visible beneficiaries of any pro-growth government policies and competition for assets is likely to be less than in other infrastructure sectors.
Further, the company is targeting 16% annual return from investing in road projects which it will find with State Bank of India acting as matchmaker.
Piramal Enterprises is one of India’s largest diversified companies, with a presence in pharmaceutical, financial services and healthcare information management sectors.
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