Piramal Enterprises surges 5% as SoftBank readies $1 bn investment

The cash will go to the Mumbai-based company's financial services arm, which primarily deals in wholesale and corporate debt

Piramal Enterprises rose 5 per cent to Rs 1,986 on the BSE in early morning trade after a Business Standard report said that Japanese conglomerate SoftBank was in final stages of talks with Piramal group to invest $1 billion.

At 10:43 AM, the stock was trading 2.4 per cent higher at Rs 1,934.80 as compared to a 0.17 per cent dip in the benchmark S&P BSE Sensex.

Masayoshi Son-led SoftBank is in the final stages of due diligence for investing $1 billion in Piramal Enterprises. The cash will go to the Mumbai-based company’s financial services arm, which primarily deals in wholesale