Piramal Enterprises shares trade ex-demerger; stock surges 9% intra-day

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

Shares of Piramal Enterprises (PEL) were trading 9 per cent higher at Rs 1,141.75 on the BSE in Tuesday’s intra-day trade amid heavy volumes. The stock was trading ex-demerger of its pharmaceutical business with effect from today.

At 11:04 am; PEL was up 4 per cent at Rs 1,091. The stock opened at Rs 1,050 (ex-demerger price) on the BSE vs its Monday's close of Rs 1,935.

The trading volumes on the counter jumped an over five-fold with a combined 3.23 million equity shares representing 1.36 per cent of total equity of the company having changed hands on