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Piramal Enterprises' bets on Shriram group pay off

Gains Rs 2,787 crore on investments in two listed entities of the group

Dev Chatterjee  |  Mumbai 

The Ajay Piramal-owned Piramal Enterprises is sitting on mark-to-market gains of Rs 2,787 crore on investments in two listed entities of the Shriram group, Shriram Transport  Finance  and Shriram City Union Finance.  The group invested in Shriram’s truck financing business in May 2013 and in the consumer finance business a year later by picking up 10 per cent in each. Piramal also bought a 20 per cent stake in Shriram group holding company, Shriram Capital, in April 2014. Since then, Shriram Transport’s stock is up 46 per cent, thus providing 10 ...

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