Piramal Enterprises to raise up to Rs 2,000 crore via NCDs
Piramal Enterprises' board of directors today (Friday, December 20) approved the company's plans to raise up to Rs 2,000 crore via issuance of Non-Convertible Debentures (NCDs) of face value Rs 1,000 each in one or more tranches.
The decision was taken in a meeting held today and the company informed about the development after market hours.
Shares of Piramal Enterprises ended at Rs 1,090.25 on the NSE, down by Rs 32.30 or 2.88% over Thursday closing price.
PEL shares have delivered 23% returns over a period of one year while its returns in 2024, so far stand at 17%. This is higher than the returns of Nifty at 11% in the last 12 months. Nifty's year-to-date returns stand at 8%.
Piramal Enterprises shares are trading below their 50-day simple moving average (SMA) of Rs 253.3 while above their 52-day SMA of Rs 187.
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