Piramal Enterprises gains on completing purchase of four brands from Pfizer

By: | Updated: September 27, 2016 4:59 PM

Piramal Enterprises shares gained on Monday after the company completed the purchase of four products - Neko Soap, Sloans, Ferradol and Waterbury’s Compound for a total consideration of Rs 110 crore from Pfizer.

BSE Sensex, NSE NiftyPiramal Enterprises shares gained on Monday after the company completed the purchase of four products – Neko Soap, Sloans, Ferradol and Waterbury’s Compound for a total consideration of Rs 110 crore from Pfizer.

Piramal Enterprises shares gained on Monday after the company completed the purchase of four products – Neko Soap, Sloans, Ferradol and Waterbury’s Compound for a total consideration of Rs 110 crore from Pfizer. The aforementioned products stand transferred to Piramal Enterprises effective from September 26, 2016. This step has been taken post completion of requisite formalities and receipt of necessary regulatory approvals for the transaction. The company had earlier on May 13, 2016 entered into an agreement with Pfizer for purchase of its four products. At 12.45 pm, share price of the company was trading 0.16 per cent up at Rs 1891.35. The scrip opened at Rs 1894.05 and touched a high and low of Rs 1900.30 and Rs 1884.60, respectively. Later, the scrip ended 0.27 per cent up at Rs 1893.45.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 2095.00 on 22-Aug-2016 and a 52 week low of Rs. 835.05 on 03-Mar-2016.

The promoters holding in the company stood at 51.58%, while Institutions and Non-Institutions held 30.80% and 17.63% respectively.

Piramal Enterprises (PEL) is engaged in the business of pharmaceuticals, including research and development, financial services and information management through its subsidiaries.

However, stock price of Pfizer Indian slumped on Tuesday. At 1.05 pm, share price of the company was trading 1.27 per cent down at Rs 1905.80. The scrip opened at Rs 1935 and touched a high and low of Rs 1944 and Rs 1896.10, respectively. It ended 0.54 per cent down at Rs 1920.

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