Piramal Enterprises surges over 7.5% in early trade, retreats later

The deal, once completed, may value the Piramal Group's overall pharma business at $2.5 billion, the report added.

Shares of Piramal Enterprises (PEL) climbed as much as 7.68 per cent to Rs 982.55 apiece on the BSE on Tuesday amid media reports that the American private equity giants TPG Capital and KKR & Co. Inc. may acquire around 20 per cent stake in Piramal Group’s proposed pharmaceutical entity that would combine the group’s pharma businesses. 

The stock, however, pared gains later and at 09:30 am, it was trading over 3 per cent higher at Rs 941 on the BSE. In comparison, the benchmark S&P BSE Sensex was quoting nearly 4 per cent higher at 28,626.85 levels. 

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