Piramal Enterprises surges 7%, hits 52-week high on divestment of DRG biz

The company signed a definitive agreement for the sale of DRG to Clarivate Analytics plc, a global leader in providing trusted insights and analytics, for a sale consideration of $950 million.

Shares of Piramal Enterprises (PEL) rallied 7 per cent to hit 52-week high of Rs 1,656 on the National Stock Exchange (NSE), after the company announced divestment of its Decision Resource Group (DRG) business for $950 million.

“PEL DRG Dutch HoldCo BV, a 100 per cent subsidiary of PEL and the holding company for Decision Resources Group (DRG) engaged in healthcare insights & analytics business, has signed a definitive agreement for the sale of DRG to Clarivate Analytics plc, a global leader in providing trusted insights and analytics, for a sale consideration of US $950 million,” the company said