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Piramal Enterprises jumps 8%; here's what is boosting rally in stock

The company may also receive further amounts in subsequent years from any eligible profits and future earnouts relating to the Imaging Group, subject to a maximum of $200 million

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SI Reporter Mumbai

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Piramal Enterprises shares jumped 7.6 per cent in Tuesday's trade on BSE, logging an intraday high at Rs 1,023.50 per share. The stock was in focus after the company announced that it would receive an estimated $140 million, following the sale of Life Molecular Imaging by Life Healthcare by FY26.
 
Around 11:44 AM, Piramal Enterprises share price was up 6.49 per cent at Rs 1,012 per share on BSE. In comparison, the BSE Sensex was up 0.43 per cent at 76,659.03. The market capitalisation of the company stood at Rs 22,818.34 crore. The 52-week high of the stock was at Rs 1,275.40 per share and the 52-week low was at Rs 736.60 per share. 
 
 
"We wish to inform you that the company has now been informed by Life Healthcare Group Holdings Limited (Life Healthcare), (part of the group that acquired Piramal Imaging SA from the Company in 2018), that they have entered into binding agreements for sale of Life Molecular Imaging Limited, a member of the Imaging Group, which agreement is subject inter alia to receipt of the approval of the shareholders of Life Healthcare and various regulatory and other approvals," the filing read.  
 
The filing added: The company may also receive further amounts in subsequent years from any eligible profits and future earnouts relating to the Imaging Group, subject to a maximum of $200 million (inclusive of the above $140 million).
 
Piramal Enterprises is a diversified global conglomerate based in India, with a presence across sectors such as healthcare, financial services, real estate, and information management. The company, founded by Dr. Ajay Piramal, has a strong footprint in the pharmaceutical industry, developing a wide range of medicines for various therapeutic areas.  Its financial services division, Piramal Capital & Housing Finance, offers loans, housing finance, and investment products, focusing on underserved markets. The company is also active in real estate through Piramal Realty, which develops residential, commercial, and mixed-use properties in key Indian cities. 
 
Additionally, Piramal has ventured into information management and packaging solutions through Piramal Glass, which serves global customers in the pharmaceutical and consumer goods sectors. Known for its ethical practices and commitment to sustainability, 
 
In the past one year, Piramal Enterprises shares have gained 1.3 per cent against Sensex's rise of 5.1 per cent. 

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First Published: Jan 14 2025 | 12:00 PM IST

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