Piramal Enterprises surges on getting license to commence business of non-banking finance institution

Piramal Enterprises is currently trading at Rs. 1813.25, up by 49.40 points or 2.80% from its previous closing of Rs. 1763.85 on the BSE.

The scrip opened at Rs. 1780.00 and has touched a high and low of Rs. 1833.00 and Rs. 1773.50 respectively. So far 50479 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 3013.00 on 07-Oct-2021 and a 52 week low of Rs. 1561.00 on 20-Jun-2022.

piramal enterprises rises on completing repurchase of ncds
piramal enterprises rises on completing repurchase of ncds

Last one week high and low of the scrip stood at Rs. 1875.40 and Rs. 1710.00 respectively. The current market cap of the company is Rs. 43224.38 crore.

The promoters holding in the company stood at 43.49%, while Institutions and Non-Institutions held 42.67% and 13.83% respectively.

The Reserve Bank of India (RBI) under Section 45 IA of the RBI Act has granted certificate of registration to Piramal Enterprises to commence the business of nonbanking financial institution without accepting public deposits. The said license was received by the company on July 26, 2022. The license enables the Company to commence business as non-banking finance institution. Period of license validity is without limitation.

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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