Piramal Enterprises shares were trading 1.3% lower at ₹1,376 in afternoon trade, recovering from a 52-week low of ₹1315.50 hit earlier in the session. "Certain market participants are spreading false/misleading rumours against the company's financial services business in an attempt to create panic among various stakeholders," Piramal Enterprises said in a regulatory filing. Piramal Enterprises, the flagship company of the Piramal Group, has presence in pharma, financial services and healthcare information management business. Piramal Enterprises said it "remains committed to bring in ₹8,000-10,000 crores of equity in the financial services business during this financial year, which would further reduce leverage to less than 2x times". The promoter holding in Piramal Enterprises remains at 46% – highest amongst sizeable financial services institutions in India - it further said.

Source: Mint October 10, 2019 09:45 UTC