Piramal Enterprises rises on acquiring Piramal Consumer Products for Rs 1.50 Lakh

Piramal Enterprises is currently trading at Rs. 986.00, up by 1.50 points or 0.15% from its previous closing of Rs. 984.50 on the BSE.

The scrip opened at Rs. 983.00 and has touched a high and low of Rs. 989.55 and Rs. 977.00 respectively. So far 731 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1043.00 on 20-May-2015 and a 52 week low of Rs. 805.00 on 18-Sep-2015.

Last one week high and low of the scrip stood at Rs. 989.55 and Rs. 938.00 respectively. The current market cap of the company is Rs. 16912.05 crore.

The promoters holding in the company stood at 52.76% while Institutions and Non-Institutions held 30.64% and 16.60% respectively.

Piramal Enterprises has acquired Piramal Consumer Products (PCPPL) for a consideration of Rs 1.50 Lakh. The consideration amount is nominal since the company so acquired has not undertaken any substantial business operations. Consequent to this acquisition, PCPPL is now a wholly owned subsidiary company of Piramal Enterprises.

Piramal Enterprises is one of the leading players globally in CRAMS (custom research and manufacturing services) as well as in the critical care segment of inhalation and injectable anaesthetics. It also has a strong presence in the OTC segment in India.