Piramal Entp hits another new high

Piramal Enterprises, which was earlier known as Piramal Healthcare has been having a fantastic run on the bourses for the past couple of days. On 30th March it hit a new 52-week high at Rs.1065 and today it surpassed that too, rising to Rs.1094.80, inching so close to the Rs.1100 mark.

The market probably remains enthused with its news of it jointly investing some Rs.900 crore with Dutch pension fund asset manager APG Asset Management in Essel Infrastructure Ltd’s solar platform across India.

The market views this as money going into a ‘sunrise’ sector whose potential is immense. The Modi Govt has set itself a target of installing 100 GW of solar power capacity and 60 GW of wind power capacity by 20222.

There are many who have already invested big time in this sector – US company SunEdison, Italy’s Enel Green, French company EDF, Japan’s SoftBank Corp, Welspun Renewables. Global funds have invested in this sector – Godman Sachs has invested into ReNew Power Ventures, Continuum Wind Energy is backed by Morgan Stanley and JP Morgan has put money in two prohects - Leap Green Energy and NuPower Renewables.