Piramal Enterprises slips 3% after board defers NCD issue

The share touched its 52-week high Rs 3,302.55 and 52-week low Rs 1,651.80 on 31 August 2018 and 07 August 2019, respectively

Shares of Piramal Enterprises slipped more than 3 percent intraday on August 29 after the company deferred the issue of non-convertible debentures (NCDs).

The administrative committee has decided to defer the issue of privately placed NCDs aggregating up to Rs 3,000 crore (including an option to retain over-subscription of up to Rs 2,500 crore), to a future date, the company said in a release.

Piramal Enterprises was quoting at Rs 1,855.00, down Rs 40.35, or 2.13 percent on the BSE.

The share touched its 52-week high Rs 3,302.55 and its 52-week low Rs 1,651.80 on 31 August 2018 and 07 August 2019, respectively.

Currently, it is trading 43.18 percent below its 52-week high and 13.61 percent above its 52-week low.

The share price declined 39 percent in the last year.

FOR MORE UPDATES CONTACT US @ Future and Option Tips OR 9644405057