Page 2 - Piramal

Piramal Pharma's Rs 1,050 crore rights issue gets Sebi's approval

Proceeds of the issue will be utilised for payment of debt and general corporate purposes

CDPQ divests 0.89% stake in Piramal Pharma via open market transaction

CDPQ on Friday divested a 0.89 per cent stake in Piramal Pharma Ltd for Rs 100 crore through an open market transaction. Caisse De Depot Et Placement Du Quebec (CDPQ) is a global investment group. According to the bulk deal data available with the National Stock Exchange (NSE), CDPQ offloaded a total of 1,05,70,466 shares, amounting to a 0.89 per cent stake in Piramal Pharma. The shares were sold at an average price of Rs 94.48 apiece, taking the transaction size to Rs 99.86 crore. Post the latest transaction, CDPQ's shareholding has been reduced to 4.64 per cent from 5.53 per cent at March-end. Meanwhile, Vanguard Group acquired more than 62 lakh shares of Piramal Pharma at an average price of Rs 94.71 per share, while other buyer(s) identity is not known. Shares of Piramal Pharma went up 3.04 per cent to close at Rs 94.95 per piece on the NSE. In a separate bulk deal, SmallCap World Fund Inc offloaded more than 7 lakh shares of Aavas Financiers for nearly Rs 96 crore through a

Piramal Critical Care appoints US-based Jeffrey Hampton as President, COO

Piramal Critical Care, a part of Piramal Pharma, on Tuesday said it has appointed Jeffrey Hampton as President and Chief Operating Officer (COO). For his new role, Hampton will be based in the United States. He joins the company from Accord Healthcare, where he was President and responsible for accelerating the firm's growth strategy. Before that, he was the Senior Vice President and General Manager at Apotex for the US and Latin America regions. "His experience across the domains of sales and marketing will help us develop stronger, long-term global operations strategies to deliver profitable growth," Piramal Pharma Global Pharma CEO Peter DeYoung said in a statement. His expertise across functions augurs well for the business, as Piramal Critical Care sets its sight to further reinforce its position as a leading global player in complex hospital generics, he added. Piramal Critical Care is a global player in anaesthesia, pain management, and intrathecal therapy. It has a presen

Stocks to Watch: SBI, ICICI Lombard, ONGC, Reliance, Oil India, Zydus Life

Stocks to Watch: ICICI Lombard General Insurance reported a 39.6 per cent surge in net profit in the January-March quarter (Q4) of FY23

Piramal Pharma reports consolidated net loss of Rs 90 crore in Q3

Piramal Pharma on Thursday reported a net loss of Rs 90 crore on a consolidated basis for the third quarter ended December 31, 2022. The Mumbai-based company had reported a net profit of Rs 163 crore in the October-December quarter of last fiscal. Revenue from operations stood at Rs 1,716 crore for the third quarter, while the same was at Rs 1,539 crore in the year-ago period. The company said the third quarter results were not comparable to the same period last year as the NCLT in August 12, 2022 approved the composite scheme of demerger of the pharma business from Piramal Enterprises Ltd (PEL) into Piramal Pharma Ltd. The NCLT also approved amalgamation of Piramal Pharma's wholly-owned subsidiaries Hemmo Pharmaceuticals and Convergence Chemical into itself with an appointed date of April 1, 2022. Accordingly, the financial statements of Piramal Pharma have been prepared giving effect to the scheme from April 1, 2022. "Based on our recent increase in customer engagements and ...

RCap assets' e-auction to kick off on Dec 19; base bid at Rs 5,300 crore

This is the first time that an e-auction of this scale would take place for a debt resolution under the Insolvency and Bankruptcy Code, 2016

Eye on maximum value, lenders say no to Reliance Capital liquidation

"Lenders will decide on the further course of action, including the stance for negotiations on Friday," the source said

RCap liquidation or negotiation? CoC to meet on Tuesday to take a call

While Deloitte, the process advisor to RCap's administrator, is said to be rooting for liquidation, CoC advisor KPMG hopes to close deal and award the firm to highest bidder

Hinduja group, Torrent, Piramal, Oaktree, bid for Reliance Capital

No takers for life and general insurance businesses of the bankrupt company, say sources

Piramal Pharma posts Q2 net loss of Rs 37 cr, revenue grows to Rs 1,720 cr

Piramal Pharma on Wednesday reported a consolidated net loss of Rs 37 crore for the second quarter ended September, as against a net profit of Rs 37 crore in the year-ago period. However, the company's revenue from operations grew to Rs 1,720 crore during the July-September quarter, from Rs 1,578 crore in the corresponding period of the previous fiscal. Nandini Piramal, Chairperson, Piramal Pharma Limited said, "We announce our first results post demerger as an independent and focused pharma company. Over the last 10 years, we have made several strategic choices that have helped nurture and scale our business and establish Piramal Pharma (PPL) as a leading global pharmaceuticals player." "For the quarter and half year ended September 2022, our business has delivered a resilient performance despite multiple internal and external challenges. We expect to deliver a much improved performance in the second half of the current financial year," she added. The National Company Law Tribunal

Tatas to raise Rs 4,000 cr from NHB, bonds market in mega home loan push

Loans to be offered to both retail and developers; funds being raised amid 13% expansion in loan portfolio over six months to September

MSCI sets aside Piramal Pharma's exclusion from global standard index

The company was listed separately on October 19, following its demerger from Piramal Enterprises

Piramal Pharma ends at Rs 192 on debut, valued at Rs 22,882 cr at close

Domestic brokerage Motilal Oswal has set a price target of Rs 210 for the stock

Piramal, Oaktree seek more time to make offers for Reliance Capital

Lenders target to resolve debt worth Rs 50,333 crore by FY23

Piramal Enterprises Q1 net profit slips 9% to Rs 486 cr; revenue up 22%

Piramal Enterprises Ltd on Friday reported an 8.95 per cent decline in consolidated net profit to Rs 485.98 crore for the first quarter ended June 30, impacted by higher expenses. The company had posted a consolidated net profit of Rs 533.79 crore in the same period last fiscal, Piramal Enterprises Ltd (PEL) said in a regulatory filing. Its revenue from operations in the first quarter stood at Rs 3,548.37 crore compared to Rs 2,908.68 crore in the year-ago period, it added. Total expenses in the quarter were higher at Rs 3,252.09 crore against Rs 2,492.97 crore a year ago. PEL said its pharmaceuticals vertical clocked revenue of Rs 1,485.43 crore, up from Rs 1,362.02 crore in the year-ago quarter. The financial services segment registered a revenue of Rs 2,062.94 crore against Rs 1,546.66 crore in the first quarter of the last fiscal, the company added. "In financial services, we achieved significant growth in retail disbursements through our branches as well as by leveraging dig

Ahead of demerger, Piramal Pharma inducts three new board members

Piramal Enterprises has received shareholders' approval to demerge its Piramal Pharma business and simplify the corporate structure

After a lull, NBFCs looking to step up funding for real estate sector

The strong demand in real estate -- residential, commercial, and logistics -- is giving confidence to the likes of JM Finance, Piramal, LIC Housing, and Indiabulls Housing Finance

Top headlines: Sri Lanka suspends external debt, Adani 6th richest in world

Biden administration reaffirms its commitment to support India's permanent membership.

SC stays NCLAT order in DHFL case on Piramal's appeal

NCLAT in January this year had directed the lenders of Dewan Housing Finance Corporation to reconsider their decision regarding the valuation of the financial firm's avoidable transactions

DHFL case: SC stays NCLAT order; to hear appeals of Piramal, banks in May

It may be pointed out that in its resolution plan, Piramal had ascribed Re 1 value against Rs 40,000 crore assets that have been fraudulently diverted by erstwhile promoters of DHFL