Piramal Enterprises gains with arm launching housing finance business in Indore

11 Jul 2019

Piramal Enterprises is currently trading at Rs. 1956.25, up by 18.60 points or 0.96% from its previous closing of Rs. 1937.65 on the BSE.

The scrip opened at Rs. 1969.95 and has touched a high and low of Rs. 1983.90 and Rs. 1952.65 respectively. So far 24424 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 3302.55 on 31-Aug-2018 and a 52 week low of Rs. 1706.10 on 20-Jun-2019.

Last one week high and low of the scrip stood at Rs. 2074.70 and Rs. 1904.45 respectively. The current market cap of the company is Rs. 39008.72 crore.

The promoters holding in the company stood at 49.70%, while Institutions and Non-Institutions held 33.13% and 17.17% respectively.

Piramal Enterprises’ wholly owned subsidiary -- Piramal Capital & Housing Finance (PCHFL) has forayed in Madhya Pradesh with the launch of its housing finance business in Indore. The company will provide its housing finance offerings namely home loans, loans against property and small ticket construction finance for home buyers (salaried and self-employed) in the Indore market.

With a robust network of 800 plus developer relationships and 3,000 plus channel partners, the housing finance business of PCHFL has 16 branches across 15 cities. Going forward, in the next 3-6 months, PCHFL plans to open its housing finance operations in Navi Mumbai and Palava.

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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