Piramal Enterprises trades jubilantly on the bourses

Piramal Enterprises is currently trading at Rs. 578.80, up by 22.65 points or 4.07% from its previous closing of Rs. 556.15 on the BSE. The scrip opened at Rs. 563.00 and has touched a high and low of Rs. 583.30 and Rs. 563.00 respectively. So far 45843 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 648.30 on 02-Sep-2013 and a 52 week low of Rs. 476.00 on 25-Jun-2013. Last one week high and low of the scrip stood at Rs. 583.30 and Rs. 522.00 respectively. The current market cap of the company is Rs. 9897.36 crore. The promoters holding in the company stood at 52.95% while Institutions and Non-Institutions held 30.75% and 16.30% respectively. Piramal Enterprises (Piramal) has decided to divest its entire equity stake, comprising 45,425,328 shares (11%), in Vodafone India to Prime Metals, an indirect subsidiary of Vodafone Group Plc, for a total consideration of Rs 8,900 crore, valuing the shares of Vodafone India at Rs 1,960 per share. Piramal had acquired these shares at an average price of Rs 1,290 per share for a total consideration of Rs 5,864 crore in two tranches during FY12. Piramal Enterprises is one of India’s largest diversified companies, with a presence in pharmaceutical, financial services and healthcare information management sectors.