Piramal Pharma (PPL) shares were trading at Rs 201.80 on the BSE and Rs 200 on the NSE on Wednesday. On the BSE, the stock dropped to a low of Rs 191.75, down 5% from its opening level. On the NSE, the intra-day low was Rs 191.35.

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PPL’s equity shares have been listed and permitted to trade on the market in the ‘T’ group of securities list. Each trade in the T2T division must result in delivery, and no intra-day netting of holdings is permitted.

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Piramal Enterprises (PEL) board of directors agreed on the demerger of the pharmaceuticals division and the streamlining of the corporate structure in October 2021, resulting in two industry-focused listed firms in Financial Services and Pharmaceuticals.

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In exchange for each fully paid-up equity share of PPL with a face value of Rs 10 held in PEL, 4 fully paid-up equity shares of PPL with a face value of Rs 10 were issued and allotted.

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Following the Carlyle pharma fund-raise, the firm has been investing organically and inorganically across all of its pharma businesses. All of the company’s core businesses have a convincing growth strategy and are following through on the strategic goals.

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Through organic measures, management believes the firm will continue to deliver on its long-term growth track record. “In the medium-to-long term, we expect nearly 15 per cent CAGR revenue growth across the businesses. As we grow revenues we expect to improve our operating margins through better-fixed cost absorption and therefore also improve our return on capital employed,” the company said in its FY22 annual report.

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While PPL has faced economic hurdles in the last 15-18 months, brokerage company Motilal Oswal Financial Services anticipates resource recruiting to revitalise the CDMO sector and the relaxation of Covid-related constraints to fuel the CHG segment.