Piramal Enterprises gains on receiving approval to raise up to Rs 500 cr

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Updated: January 06, 2016 5:17 PM

Piramal Enterprises shares gained after the company said its committee of directors have approved raising up to Rs 500 crore through issue of secured non-convertible debentures (NCDs).

Piramal Enterprises sharesPiramal Enterprises shares gained after the company said its committee of directors have approved raising up to Rs 500 crore through issue of secured non-convertible debentures (NCDs). (Photo: Reuters)

Piramal Enterprises shares gained over 2 per cent on Wednesday after the company said its committee of directors have approved raising up to Rs 500 crore through issue of secured non-convertible debentures (NCDs).

At 9.59 am, Piramal Enterprises shares were trading 1.44 per cent up at Rs 1000.65. The scrip opened at Rs 990.00 and has touched high and low of Rs 1011.05 and Rs 990.00, respectively, in trade so far. Later, the scrip settled 0.30 per cent up at Rs 989.40.

So far, around 4281 shares of Piramal Enterprises exchanged hands on the BSE as compared with two-week average daily volume of 0.10 lakh shares.

The committee of directors (funding) has approved the issue of secured non-convertible debentures amounting up to Rs 500 crore, Piramal Enterprises said in a regulatory filing.

Piramal Enterprises is the flagship company of Piramal Group and is present in the healthcare, financial services and information management verticals.

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