Piramal Enterprises will hold a meeting of the Board of Directors of the Company on 26 April 2019.

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Piramal Enterprises has allotted 17,585 equity shares of face value of Rs.2 each, at an issue price of Rs. 2,380 per equity share including a premium of Rs. 2,378 per equity share in favour of holders of theCompulsorily Convertible Debenture under rights issue of the company.

Pursuant to the aforesaid allotment:

I. The paid up share capital of the Company stands increased from 18,44,46,972 equity shares of Rs. 2 each amounting to Rs. 36,88,93,944 to 18,44,64,557 equity shares of Rs.2 each amountingto Rs. 36,89,29,114: and

2. The reservation portion in favour of CCD holders stands decreased from 7.88,764 equity shares to 7, 71,179 equity shares.

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Piramal Enterprises Ltd is up for a third straight session today. The stock is quoting at Rs 2680.4, up 1.87% on the day as on 12:54 IST on the NSE. The benchmark NIFTY is up around 0.55% on the day, quoting at 11508.05. The Sensex is at 38338.47, up 0.54%. Piramal Enterprises Ltd has gained around 13% in last one month.

Meanwhile, Nifty Pharma index of which Piramal Enterprises Ltd is a constituent, has gained around 2.45% in last one month and is currently quoting at 9148.8, up 0.47% on the day. The volume in the stock stood at 3.35 lakh shares today, compared to the daily average of 5.05 lakh shares in last one month.

The benchmark March futures contract for the stock is quoting at Rs 2678, up 1.89% on the day. Piramal Enterprises Ltd is up 8.47% in last one year as compared to a 12.69% jump in NIFTY and a 6.63% jump in the Nifty Pharma index.

The PE of the stock is 69.14 based on TTM earnings ending December 18.

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The announcement was made after market hours yesterday, 11 March 2019.

Meanwhile, the S&P BSE Sensex was up 335.48 points, or 0.91% to 37,389.58.

On the BSE, 8,833 shares were traded in the counter so far compared with average daily volumes of 41,000 shares in the past two weeks. The stock had hit a high of Rs 2697.80 and a low of Rs 2680 so far during the day. The stock hit a 52-week high of Rs 3,302.55 on 31 August 2018. The stock hit a 52-week low of Rs 1,796.75 on 26 October 2018.

Piramal Critical Care, a global leader in anesthesia, pain management, and intrathecal therapy, announced the launch of Mitigo (morphine sulfate injection, USP - preservative-free) in 10 mg/mL and 25 mg/mL concentrations in the US market.

Piramal Critical Care will continue to work with wholesalers, hospitals, interventional pain doctors, and pain management centers across the country to ensure availability of Mitigo for patients with intractable chronic pain.

Mitigo is an opioid agonist, for use in continuous microinfusion devices indicated only for intrathecal or epidural infusion for the management of intractable chronic pain severe enough to require an opioid analgesic and for which alternative treatments are inadequate.

Piramal Critical Care, a business unit of Piramal Enterprises, is a global leader in anesthesia, pain management, and intrathecal therapy.

On a consolidated basis, net profit of Piramal Enterprises rose 23.03% to Rs 603.98 crore on 22.07% rise in net sales to Rs 3489.08 crore in Q3 December 2018 over Q3 December 2017.

Piramal Enterprises is one of India's large diversified companies, with a presence in financial services, pharmaceuticals and healthcare insights & analytics.

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