Piramal Life Sciences gain on stake sale buzz
Shares of Piramal Life Sciences extended gains to as much as 13 per cent after media reports that healthcare funds MPM Capital and OrbiMed are in the race to acquire a stake in the company.
By ET Online |
MUMBAI: Shares of Piramal Life Sciences extended gains to as much as 13 per cent after media reports that healthcare funds MPM Capital and OrbiMed are in the race to acquire a stake in the company.
Chairman Ajay Piramal had, at the time of the company's listing in May, said the company was planning to dilute 10-20 per cent equity through a stake sale in the next 12 months.
At 2:20 pm, the company's shares were up 9.7 per cent at Rs 286.80, easing from a high of Rs 305.90 with volume traded at 14,48,573 against two week average of 10,32,706 shares.
Chairman Ajay Piramal had, at the time of the company's listing in May, said the company was planning to dilute 10-20 per cent equity through a stake sale in the next 12 months.
At 2:20 pm, the company's shares were up 9.7 per cent at Rs 286.80, easing from a high of Rs 305.90 with volume traded at 14,48,573 against two week average of 10,32,706 shares.
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