Piramal to expand overseas pharma biz: 12 Jul 2017

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Piramal Enterprises has plans to introduce more products going forward and it is looking to expand the presence of its pharma vertical in strong global markets such as the US, Europe, and Japan.

Europe and North America contribute ove, 70% of the company’s revenue from pharmaceuticals business.

Piramal’s pharma vertical is segmented into the India consumer products business that sells OTC products and the global pharma business that sells pharma products and services globally.

The company has a distribution network in over 110 countries across the globe. The company has cleared 28 USFDA audits, 78 other regulatory inspections and 568 customer inspections over the past six years.

Stock view:

Piramal Enterprises Ltd is currently trading at Rs 2886.45, up by Rs 24.3 or 0.85% from its previous closing of Rs 2862.15 on the BSE.

The scrip opened at Rs 2872.85 and has touched a high and low of Rs 2895.3 and Rs 2872.85 respectively. So far 34408(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 49386.4 crore.

The BSE group ‘A’ stock of face value Rs 2 has touched a 52 week high of Rs 3083.05 on 13-Jun-2017 and a 52 week low of Rs 1377.5 on 15-Nov-2016.
Last one week high and low of the scrip stood at Rs 3001.1 and Rs 2803.95 respectively.

The promoters holding in the company stood at 51.43 % while Institutions and Non-Institutions held 31.15 % and 16.32 % respectively.

The stock is currently trading above its 50 DMA.

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