Blackstone has agreed for an upfront payment of $850 million to Piramal Group, following which it will take over the ownership and management of Piramal Glass. The remaining $150 million will be paid over 2 years.
SP Tulsian of sptulsian.com suggests exiting Piramal Glass at around Rs 110-112. "I don‘t think very stiff price discovery is likely to happen on delisting," he adds.
Piramal Glass has reported a sales turnover of Rs 445.66 crore and a net profit of Rs 12.12 crore for the quarter ended Dec '13
Shareholders will be offered Rs 100 for a share, it said. The company said that the delisting proposal will give the company flixibility to deleverage itself and reorganise its operations to improve performance.
The Indian rupee gained in the early trade. It opened higher by 13 paise at 62.15 per dollar versus 62.28 Friday.
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Piramal Glass has reported a sales turnover of Rs 469.97 crore and a net profit of Rs 9.12 crore for the quarter ended Sep '13
“In Sri-Lanka we have a land parcel of about 20 acres, where we had our plant earlier. The income from first parcel of land sale was booked in this quarter, Mr. Chunduru Srinivas, President – M&A and Investor Relations at Piramal Glass told in an exclusive interview to moneycontrol.com.
Piramal Glass has reported a sales turnover of Rs 439.75 crore and a net profit of Rs 5.21 crore for the quarter ended Mar '13
Piramal Glass has reported a sales turnover of Rs 398.81 crore and a net profit of Rs 9.01 crore for the quarter ended Dec '12
On January 16, 2013 PEL Management Services Private Limited bought 596,759 shares of Piramal Glass at Rs 87 on the BSE. In the previous trading session, the share closed at Rs 86.40, down Rs 0.95, or 1.09%.
Glass packaging firm Piramal Glass today reported a 66.28% decline in its consolidated net profit to Rs 10.63 crore for the quarter ended June 30, 2012, mainly on account of increase in manufacturing costs.
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Piramal Glass may test Rs 140 in year‘s time, says SP Tulsian, sptulsian.com.
Emkay Global Financial Services is bullish on Piramal Glass and has recommended buy rating on the stock with a target of Rs 155 in its May 8, 2012 research report.
SPA Research has come out with its report on Piramal Glass.
Emkay Global Financial Services is bullish on Piramal Glass (PGL) and has recommended buy rating on the stock with a target price of Rs 155 in its February 1, 2012 research report.
Unicon Investment is bullish on Piramal Glass (PGL) and has recommended buy rating on the stock with a target price of Rs 143 in its February 2, 2012 research report.
Piramal Glass has reported a sales turnover of Rs 227.70 crore and a net profit of Rs 22.20 crore for the quarter ended Dec '11
Unicon Investment is bullish on Piramal Glass and has recommended buy rating on the stock with a target of Rs 190 in its October 29, 2011 research report.
Piramal Glass has reported a sales turnover of Rs 197.46 crore and a net profit of Rs 22.23 crore for the quarter ended Sep '11
Glass falconage maker Piramal Glass expects to raise capacity of its cosmetics and perfumes bottles by about 40% to 550 tonne a day by March, as it looks to capitalise on low-cost advantage to draw more business from Europe.
Unicon Investment is bullish on Piramal Glass and has recommended buy rating on the stock with a target of Rs 190 in its August 18, 2011 research report.
Piramal Glass can move to about Rs 170-175 in the next 6-8 months, says SP Tulsian, sptulsian.com.
Piramal Glass today said its consolidated net profit rose by 75.71% to Rs 29.01 crore for the first quarter ended June 30, 2011, over the same period previous fiscal.