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Shares of Piramal Enterprises Ltd. traded 0.37 per cent higher in Friday’s session at 11:18AM (IST). The stock opened at Rs 2575.1 and has touched an intraday high and low of Rs 2599.0 and Rs 2560.85, respectively, during the session so far.

The stock quoted a 52-week high of Rs 2856.8 and a 52-week low of 1178.85. About 7,141 shares changed hands on the counter so far.

Benchmark Nifty50 was up 30.8 points at 16667.70, while the BSE Sensex traded 41.53 points higher at 55990.63 at the time of writing of this report.

In the Nifty pack, 36 stocks traded the day in the green, while 14 were in the red.

Key Financials

For the quarter ended 30-Jun-2021, the company reported consolidated sales of Rs 3011.6 crore, down 15.55 per cent from the previous quarter’s Rs 3565.98 crore and down 0.29 per cent from the year-ago quarter. The company reported net profit of Rs 539.4 crore for the latest quarter.

Promoter Holdings

Promoters held 43.52 per cent stake in the company as of 30-Jun-2021, while FIIs held 33.27 per cent and MFs 1.44 per cent.

Technicals

On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 1858.39 on August 27, while the 50-DMA was at Rs 2449.33. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.

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