Piramal Enterprises gains on dividend bounty
The board has recommended a dividend of 2625% or Rs 52.50 per equity share of face value of Rs 2/- for FY14.
Piramal Enterprises has soared 6% to Rs 590 after the company said its board has recommended a dividend of 2625% or Rs 52.50 per equity share of face value of Rs 2/- for the financial year ended March 31, 2014.
Meanwhile, Piramal Enterprises said its March quarter loss has widened to Rs 311 crore from Rs 200 crore in the year-ago period. Its revenue however, rose 30% to Rs 1,107 crore in the three months ended 31 March.
In a separate filing, the company said its board has also approved merger of its subsidiaries --PHL Capital Pvt Ltd, Piramal Pharmaceutical Development Services Pvt Ltd and Oxygen Bio Research Pvt Ltd--with the company.
The stock opened at Rs 573 and touched a high of Rs 599 on the BSE. A combined 260,000 shares changed hands on the counter so far on the BSE and NSE.
Meanwhile, Piramal Enterprises said its March quarter loss has widened to Rs 311 crore from Rs 200 crore in the year-ago period. Its revenue however, rose 30% to Rs 1,107 crore in the three months ended 31 March.
In a separate filing, the company said its board has also approved merger of its subsidiaries --PHL Capital Pvt Ltd, Piramal Pharmaceutical Development Services Pvt Ltd and Oxygen Bio Research Pvt Ltd--with the company.
The stock opened at Rs 573 and touched a high of Rs 599 on the BSE. A combined 260,000 shares changed hands on the counter so far on the BSE and NSE.