Piramal Enterprises rises on the buzz of plan to de-merge healthcare, financial services business

Piramal Enterprises is currently trading at Rs 1365.00, up by 29.05 points or 2.17% from its previous closing of Rs. 1335.95 on the BSE.

The scrip opened at Rs. 1339.90 and has touched a high and low of Rs. 1398.00 and Rs. 1331.05 respectively. So far 21440 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1398.00 on 17-May-2016 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. 1398.00 and Rs. 1203.00 respectively. The current market cap of the company is Rs. 23123.46 crore.

The promoters holding in the company stood at 51.58% while Institutions and Non-Institutions held 30.47% and 17.95% respectively.

Piramal Enterprises is reportedly looking to de-merge its healthcare and financial services businesses. While new sectors are on the radar for investment, the group is setting up a fund to invest in stressed assets.

The company’s net profit almost doubled to Rs 180 crore for the three months ended March 31, 2016, riding on improved performances of its business segments and lower research expenses. It had posted a net profit of Rs 95 crore during the comparable year-ago quarter.