News Tonight

Technical analyst Salil Sharma of Kapoor Sharma & Company has maintained 'buy' rating on Piramal Healthcare Limited stock with a target of Rs 395.

Mr. Sharma said that the interested investors can buy the stock with a stop loss of Rs 356.

Today, the stock of the company opened at Rs 376 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 560 and a low of Rs 363 on BSE.

Current EPS is -164.38.

Piramal Healthcare Ltd (PHL) has forayed into the financial services segment by declaring proposals to introduce two non-banking finance companies (NBFCs).

Ajay Piramal owned company has also got hold of two PE business groups comprising Indiareit Fund Advisors Pvt Ltd and Indiareit Investment Management Company for an aggregate sum of Rs 225 crore.

While declaring the plans, Chairman Ajay Piramal stated that the company would make an investment of Rs 1,000 crore in both NBFCs and look for licences.

The financial services division in the country is likely to rise to 8% of GDP by the coming 7-10 years.

Indian financial services market is 120,000 crore and has been developing at 15-17% during the past five years.