Piramal Enterprises Ltd shares plunge 1.98% as Nifty drops
Piramal Group is a diversified global business combination, that has a presence across various sectors such as healthcare, life sciences, drug discovery, healthcare information, management, financial services, and real estate.
The Piramal Group comprises 4 key companies, Piramal Enterprises Ltd. Piramal Glass, and Realty, and Piramal Foundation. Moreover, Piramal Enterprises is listed at both the Bombay Stock Exchange and National Stock Exchange. Fortune 500 ranked Piramal Healthcare in the top-50 largest corporations across India.
Moreover, Shares of Piramal Enterprises Ltd traded a 1.98 percent plunge at Rs. 1,915.9 on Friday. But the benchmark BSE Sensex advanced 147.16 points to 51,426.67. However, as many as 37,004 shares changed hands on the counter with a total value of Rs. 7.15 crore.
On the other hand, the stock quoted a 52-week high price of Rs. 2,008.2 and a 52-week low of Rs. 608.00. Moreover, on the technical charts, the 200-DMA of the stock stood at Rs. 1,428.58, while 50-DMA was at Rs. 1,662.62. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up.
However, if the stock trades below 50 DMA and 200 DMA both, it is considered a bearish trend. And if it trades between 50DMA and 200DMA, then it suggests the stock can go anywhere. Moreover, the shares of the company have advanced 84.83 percent in the past year. While Sensex has risen 24.92 percent during the same period.
As stated in BSE data, the stock trades at a price-to-earnings multiple of 214.63 and a price-to-book ratio of 0.73. Moreover, a higher P/E ratio shows investors a willing to pay a higher price because of better future growth expectations.
On the other hand, Price book value indicates the inherent value of a company and reflects the price that investors are ready to pay even for no growth in a business. The stock belongs to various industries.