Piramal Enterprises surges 15% in 2 days; DHFL hits 10% upper circuit

As part of the resolution plan, DHFL's equity shares are proposed to be delisted

Shares of Piramal Enterprises zoomed 8 per cent to Rs 2,124 on the BSE in intra-day trade on Tuesday, thus surging 15 per cent in two days after the Mumbai Bench of the National Company Law Tribunal (NCLT) approved Piramal Group’s resolution plan for the beleaguered Dewan Housing Finance Ltd (DHFL).

DHFL's stock was locked in upper circuit for the second straight day, up 10 per cent at Rs 22.85 on the BSE with only buyers seen on the counter. The trading volumes jumped over five-fold with a combined 17.9 million shares changing hands on the NSE and BSE.