Piramal Enterprises

Funds will be used by the company to fuel the further expansion of Impresario's business

PEL has moved Rs 5,888 crore worth of wholesale assets from Stage 1 to Stage 2 as the management believed there could be potential stress from these assets

They could replace Piramal Enterprises, Gland Pharma, Mphasis, Muthoot Finance, Bandhan Bank and Paytm, which may move to mid-cap space, reveals analysis by Brian Freitas of Periscope Analytics

The company was listed separately on October 19, following its demerger from Piramal Enterprises

In a Q&A, Nandini Piramal, chairperson of the firm, says the company currently sees great scope in expanding and organically growing the OTC business, and wants to build more consumer focused brands

Domestic brokerage Motilal Oswal has set a price target of Rs 210 for the stock

In the past two days, the stock slipped 11 per cent after the RBI directed M&M Financial Services to immediately cease any recovery or repossession activities via an outsource till further orders.

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The record date is fixed as September 01, 2022 for issuance and allotment of 4 equity shares (Rs 10 each) of Piramal Pharma (PPL) for every 1 equity share (Rs 2 each) to shareholders of Piramal Ent

This paves the way towards creation of two sepa­ra­te listed entities - Piramal Enter­prises and Piramal Pharma

"We are on track to achieve the completion of demerger and separate listing of Piramal Pharma by the third quarter of the current financial year," PEL Chairperson Ajay Piramal said.

Pharmaceutical businesses that have a strong track record of quality compliance and can remain agile towards new regulatory requirements, will emerge stronger as the impact of the pandemic decreases, according to Piramal Enterprises Ltd Chairman Ajay G Piramal. Addressing shareholders in the company's annual report for 2021-22, Piramal said the company's pharma vertical is expected to have nearly 15 per cent CAGR revenue growth across businesses in the medium to long-term. "In the current circumstances, the pharmaceutical sector has emerged as an essential industry, with an ever-more critical role in today's evolving world," he wrote. Stating that the world's economy and infrastructure continue to be affected by significant supply chain disruptions and volatility in raw material costs, Piramal said safeguarding the supply chain is extremely critical and the company's teams have been pro-actively working towards diversifying vendor base and obtaining alternative suppliers to reduce .

Piramal Enterprises has received shareholders' approval to demerge its Piramal Pharma business and simplify the corporate structure

CLOSING BELL: It was, largely, a broad-based rally where the Nifty PSU Bank index advanced the most, up 3.4 per cent

The company has received 99 per cent of votes at the shareholders meeting held on Tuesday, PEL said in a statement

The stock has fallen below its previous low of Rs 1,688, touched on May 27, 2021

Board recommends a dividend of Rs 33 per share, subject to shareholder's approval.

At present, the PCHFL has a loan book of around Rs. 2,100 crore in UP, and 21 branches covering all the key markets in the state

The committee in its meeting held on Wednesday approved the issuance of the NCDs on private placement basis, Piramal Enterprises said in a regulatory filing

A meeting of the administrative committee of the board of directors of the company will be held on May 4, 2022, to consider and approve the issuance of NCDs for up to Rs 50 crore