Nicholas Piramal up on R&D rejig buzz

DALAL STREET SPIKES

Nicholas Piramal India surged nearly 4 per cent to Rs 258.55 after news that its directors would take a decision on August 31 on a restructuring plan for the company's research & development division.

Nicholas plans to demerge its new chemical entity (NCE) research unit into a separate entity. The stock of India's sixth-largest pharma company by sales has underperformed the market over the last one month, declining 6.45 per cent.