Piramal Life said that the board has okayed demerger of new chemical entity research unit. The swap ratio will be 1 share of Piramal Health for each 4 held, reports CNBC-TV18.
Piramal Life Sciences touched an intraday high of Rs 118.70 and an intraday low of Rs 105.90. At 09:20 hrs the share was quoting at Rs 112.95, up Rs 14.05, or 14.21% on the NSE.
It was trading with volumes of 40,589 shares. In the previous trading session, the share closed down 5.00% or Rs 5.20 at Rs 98.90.
However, the share of Piramal Healthcare touched a 52-week low of Rs 400. At 09:20 hrs the share was quoting at Rs 435, down Rs 23.90, or 5.21% on the NSE.
It was trading with volumes of 57,936 shares. In the previous trading session, the share closed up 0.09% or Rs 0.40 at Rs 458.90.
Meanwhile, Macquarie has cut Piramal Health target to Rs 370 from Rs 600, reports CNBC-TV18.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
