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    Piramal Enterprises shares slip 2% as co to consider NCD issuance on Friday

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    Piramal Enterprises shares slip 2% as co to consider NCD issuance on Friday
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    Synopsis

    Piramal Enterprises' shares dipped 2.3% after the company announced plans for a public issuance of non-convertible debentures (NCDs). The decision will be finalized at a board meeting on Friday. While the stock has performed well over the past year and YTD, it's seen a slight decline recently and is currently trading below its 10-day EMA but above other key EMAs.

    Piramal Enterprises shares in focus as co to consider NCD issuance on Friday
    Shares of Piramal Enterprises dipped 2.3% to an intraday low of Rs 1,195.95 on the BSE after the company on Tuesday announced that it will consider a public issuance of non-convertible debentures (NCDs) in its upcoming board meeting on Friday.

    “Pursuant to Regulation 29 & 50 of the SEBI Listing Regulations, we write to inform you that pursuant to the powers delegated by the Board of Directors, a meeting of the Administrative Committee of the Board of Directors of the Company will be held on Friday, 20th December, 2024, to consider and approve the public issuance of Non-Convertible Debentures,” said the company in a filing to the exchanges.

    Any other details regarding the same have not yet been provided by the company.

    In the last one year, shares of Piramal Enterprises have given returns of 26.4% in the last one year while having surged by 31.2% in the current calendar year so far. However, in the last 3 months, the stock has declined by 2.9%, according to the BSE analytics.

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    Growfast
      On charts, the stock is currently placed below its 10-day exponential moving average (DEMA), but above all its other significant EMAs (i.e, 20, 50, 100 and 200 DEMAs). On the relative strength indicator (RSI), the stock is oscillating near the 61 mark, according to the Trendlyne data.

      On the RSI, a level below 30 is considered to be oversold while above the 70 level, it is considered to be overbought.

      On Tuesday, the shares of Piramal Enterprises closed 2.11% lower at Rs 1,224.45 on the BSE.

      (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)


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