Piramal Enterprises hit a high of 1.65% to Rs 830.95 after the approval of the board of directors of the company to raise up to Rs 500 crore through non-convertible debentures on a (PPB) private placement basis. The fund has to be raised by rated, issuing secured, redeemable non-convertible debentures of the company through PPB.

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The company said that debentures should be secured by first-ranking security consisting of charge over the hypothecated properties, designated account assets and such other assets as set out in debenture documents.

This company is diversified, with a presence in Pharmaceuticals and Financial Services.

On a consolidated basis, the company reported a net loss of Rs 1,536.39 crore in July-September of FY23 as against a net profit of Rs 419.17 crore in July-September of FY22. Total income jumped 48.9% to Rs 2,580.62 crore in July-September of FY23 as against Rs 1732.93 crore in July-September of FY22.