Piramal Enterprises shares tank 8% post Q1 results and buyback announcement
Piramal Enterprises reported a profit of INR 508.78 crore ($68.65m) in the June quarter compared to INR 8,155.47 crore ($1.1bn) in the same period last year. The earnings saw Piramal's stock plummet 8% to INR 986 in BSE trading. The firm has also revealed plans to buy back up to INR 1,750 crore ($235.7m) worth of shares at a price of INR1,250 ($16.87) per share. Piramal's stock has risen more than 20% this year.
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