Piramal Enterprises plans to raise Rs. 500 crores via NCDs

A meeting of the Committee of Directors (Funding) of the Company will be held on January 05, 2016 to consider and approve the issue of secured non-convertible debentures

Piramal Enterprises Ltd has announced that a meeting of the Committee of Directors (Funding) of the Company will be held on January 05, 2016 to consider and approve the issue of secured non-convertible debentures amounting upto Rs. 500 crores.

Piramal Enterprises Ltd ended at Rs. 1004.1, up by Rs. 17.45 or 1.77% from its previous closing of Rs. 986.65 on the BSE.

The scrip opened at Rs. 990 and touched a high and low of Rs. 1010.95 and Rs. 990 respectively. A total of 43405(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 17325.75 crore.

The BSE group 'A' stock of face value Rs. 2 touched a 52 week high of Rs. 1043 on 20-May-2015 and a 52 week low of Rs. 805 on 18-Sep-2015. Last one week high and low of the scrip stood at Rs. 1010.95 and Rs. 956.75 respectively.

The promoters holding in the company stood at 52.82 % while Institutions and Non-Institutions held 30.91 % and 16.27 % respectively.

The stock traded below its 50 DMA.