Piramal Enterprises agrees to acquire 9.99% Equity Stake in Shriram City Union Finance Limited

Piramal Enterprises Ltd has on April 30, 2014 agreed to acquire 65,79,840 equity shares in Shriram City Union Finance Limited ('SCUFL'), representing 9.99% of the post-diluted equity share capital of SCUFL, by way of subscription to fresh shares pursuant to a preferential allotment by SCUFL.

Shares of PIRAMAL ENTERPRISES LTD. was last trading in BSE at Rs.540.1 as compared to the previous close of Rs. 560.1. The total number of shares traded during the day was 9680 in over 1000 trades.

The stock hit an intraday high of Rs. 562.55 and intraday low of 539. The net turnover during the day was Rs. 5299131.

Source : Equity Bulls

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