Piramal Enterprises Ltd clarifies on acquisition of Apollo's Health Super HiWay

The Exchange had sought clarification from Piramal Enterprises Ltd with respect to news article appearing in The Economic Times on March 17, 2015 titled "Piramal may buy Apollo's Health Super HiWay.".

Piramal Enterprises Ltd has replied stating that as part of its growth strategy, the Company continually looks at strategic initiatives including viable investment opportunities. All of these are channelled towards achieving operational excellence and growth.

So far as the captioned news article is concerned, the Company's proposed investment in Health Super HiWay is subject to several pre-conditions, only upon fulfillment of which, the investment would be made. Further, such investment would be made in a phased manner. We shall intimate the stock exchanges immediately upon the first phase of investment getting concluded, at which time, we shall also communicate the actual consideration for the same.

Shares of PIRAMAL ENTERPRISES LTD. was last trading in BSE at Rs.873.3 as compared to the previous close of Rs. 885.7. The total number of shares traded during the day was 31269 in over 4526 trades.

The stock hit an intraday high of Rs. 917 and intraday low of 860. The net turnover during the day was Rs. 27924448.

Source : Equity Bulls

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