Piramal Enterprises is currently trading at Rs. 896.30, up by 17.55 points or 2.00% from its previous closing of Rs. 878.75 on the BSE.
The scrip opened at Rs. 898.00 and has touched a high and low of Rs. 912.70 and Rs. 880.00 respectively. So far 10573 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 948.80 on 23-Feb-2015 and a 52 week low of Rs. 508.00 on 14-Mar-2014.
Last one week high and low of the scrip stood at Rs. 948.80 and Rs. 850.00 respectively. The current market cap of the company is Rs. 15685.99 crore.
The promoters holding in the company stood at 52.86%, while Institutions and Non-Institutions held 30.59% and 16.54% respectively.
In a bid to finance its construction projects, Piramal Fund Management, a unit of Piramal Enterprises, is planning to invest around Rs 5,000 crore amounting $803 million before March 2016. The fund manager would invest Rs 1,100 crore to finance nine construction projects across major Indian cities.
The projects are a mix of late-stage and mid-market residential developments, including at suburban locations, with a completion timeframe of 3 to 5 years. The projects are in Mumbai, Delhi, Bangalore, Pune and Chennai. The company will eventually expand financing to smaller cities such as Jaipur, Ahmedabad, Nagpur and Hyderabad.
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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