DHFL aside, pharma to drive Piramal stock
The pharma division’s growth was hit by the 14 per cent year-on-year drop in the hospital generics business in the first nine months of FY21.
Synopsis
The company’s management has guided for a 15 per cent organic revenue growth in the pharma business for FY22 compared with the 1 per cent growth in the first nine months of FY21.
ET Intelligence Group: The stock of Piramal Enterprises has gained nearly 52 per cent since the beginning of February largely on account of developments in its finance business such as the acquisition of DHFL, entry into retail lending, and recovery in the property market. The stock momentum may sustain given the improving prospects of its pharmaceutical division and a possibility of its demerger and listing in the medium term.