Stock market news: Piramal Enterprises shares gains nearly 1%

NEW DELHI: Shares of Piramal Enterprises Ltd. traded 0.6 per cent up in Friday's trade at 11:57AM (IST). Around 32,555 shares changed hands on the counter.

The counter opened at Rs 1339 and touched an intraday high and low of Rs 1339 and Rs 1292.4, respectively, in the session so far. The stock of Piramal Enterprises Ltd. quoted a 52-week high of Rs 1829.39 and a 52-week low of Rs 608.

Total market cap of the Piramal Enterprises Ltd. stood at Rs 29986.45 crore at the time of writing this report.

Piramal Enterprises has prepaid a Rs 1,000-crore loan taken from Barclays Bank India, which provided short-term liquidity support to the non-banking financial company, three people with direct knowledge of the matter told ET.

Key Financials
The company reported consolidated sales of Rs 2937.34 crore for the quarter ended 30-Jun-2020, down 12.08 per cent from previous quarter's Rs 3341.0 crore and down 16.23 per cent from the year-ago quarter's Rs 3506.25 crore.

The net profit for latest quarter stood at Rs 495.56 crore, up 9.91 per cent from the same quarter a year ago.

Shareholding pattern
As of 30-Jun-2020, domestic institutional investors held 0.54 per cent stake in the company, while foreign institutional investors held 29.56 per cent and the promoters 46.06 per cent.

Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 409.26 and a price-to-book ratio of 0.73. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Piramal Enterprises Ltd. belongs to the Diversified industry.