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Piramal Enterprises gains on plan to invest $11 million in UK facility

11 Sep 2013 Evaluate

Piramal Enterprises is currently trading at Rs. 605.00, up by 1.75 points or 0.29% from its previous closing of Rs. 603.25 on the BSE.

The scrip opened at Rs. 610.00 and has touched a high and low of Rs. 613.00 and Rs. 604.00 respectively. So far 824 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 648.30 on 02-Sep-2013 and a 52 week low of Rs. 395.00 on 06-Nov-2012.

Last one week high and low of the scrip stood at Rs. 613.00 and Rs. 570.00 respectively. The current market cap of the company is Rs. 15654.73 crore.

The promoters holding in the company stood at 53.00 %, while Institutions and Non-Institutions held 30.03 % and 16.97 % respectively.

Piramal Healthcare is planning to invest $11 million at its Morpeth, UK facility to triple the production capacity for hormonal products, including contraceptive pills and hormone replacement therapies. The expansion, which has been commissioned in response to customer demand and new business gains, will see the Morpeth site’s production capacity increase by around 2 billion tablets per annum.

Work on the new suite, which will house formulation, packaging coating and tableting equipment, will commence at the end of 2013, with mechanical completion anticipated within 12 months and full operations expected to begin following a 6 month validation period.

Piramal Enterprises is one of India’s largest diversified companies, with a presence in pharmaceutical, financial services and information management sectors.

Piramal Ent - Amalga Share Price

1124.60 0.00 (0.00%)
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