Piramal Enterprises gains after its arm partners with CSCs
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Piramal Enterprises is currently trading at Rs. 1095.80, up by 5.30 points or 0.49% from its previous closing of Rs. 1090.50 on the BSE.
The scrip opened at Rs. 1095.35 and has touched a high and low of Rs. 1105.00 and Rs. 1082.15 respectively. So far 11569 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1143.00 on 16-Sep-2024 and a 52 week low of Rs. 736.60 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 1143.00 and Rs. 1046.00 respectively. The current market cap of the company is Rs. 24773.23 crore.
The promoters holding in the company stood at 46.03%, while Institutions and Non-Institutions held 29.54% and 24.44% respectively.
Piramal Enterprises’ wholly-owned subsidiary -- Piramal Capital & Housing Finance (Piramal Finance) has partnered with Digital India’s Common Service Centers (CSCs) to meet the lending needs of Bharat by improving access to formal credit for underserved individuals and MSMEs.
Through this collaboration, over Rs 100 crore has been successfully disbursed in August 2024 to boost credit availability in semi-urban areas, providing essential financial products such as home and business loans. By leveraging CSC's extensive network of over 6 lakh centers, this initiative aims to support budget customers in tier 2 and tier 3 cities, effectively addressing the financial needs of underserved regions and advancing financial inclusion.
Piramal Finance will expand its loan offerings through CSCs, targeting underserved regions to better serve individuals and MSMEs in tier 2 and tier 3 cities. By combining technology with local outreach, this partnership supports first-time borrowers and underserved communities, contributing to financial inclusion goals and fostering sustainable growth in lending. Customers can easily apply for loans at their nearest CSC with basic documentation, ensuring greater accessibility to financial services.
Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services.
