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Piramal Glass spurts on subsidiary's plan of selling balance portion of Rathmalana land

17 Jul 2013 Evaluate

Piramal Glass is currently trading at Rs 91.75, up by 0.90 points or 0.99% from its previous closing of Rs 90.85 on the BSE.

The scrip opened at Rs 90.50 and has touched a high and low of Rs 97.00 and Rs 90.00 respectively. So far 10542 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 111.15 on 18-Jul-2012 and a 52 week low of Rs 74.35 on 10-Jun-2013.

Last one week high and low of the scrip stood at Rs 91.80 and Rs 87.75 respectively. The current market cap of the company is Rs 741.60 crore.

The promoters holding in the company stood at 74.46% while Institutions and Non-Institutions held 2.27% and 23.27% respectively.

Piramal Glass’ Sri Lankan subsidiary -- Piramal Glass Ceylon PLC - has agreed to sell the balance portion of its Land at Rathmalana for a consideration of Sri Lankan Rs 41.5 crore (equivalent to about Rs 18.76 crore). The final sale transaction is likely to be completed on or before November 30, 2013.

Piramal Glass is engaged in the business of manufacturing packaging solutions for the perfumery and pharmaceuticals.

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