Piramal Ent hits another new high

Piramal Enterprises hit a new 52-week high today at Rs.1229 and some 12,000 shares changed hands.

There is unconfirmed news that the company is right head in the race to pick up a stake in Lanco Infra’s thermal power portfolio. This could be done through the structured group of Piramal Enterprises under Piramal Capital.

The news is that the enterprise value of the 6 power plants of Lanco is estimated between Rs.42,000 to 45,000 crore.

This investment in Lanco is in line with Piramal’s plans to make big forays into the Indian infrastructure segment.