In Morning trade on Tuesday, Piramal Enterprises’ shares declined over 3 per cent after it claimed it is planning to sell its entire holding of around 20 per cent stake in Shriram Capital.
In  a regulatory filing, Piramal Enterprises said, “As part of the long-term strategy of the company to fund the growth of its financial services business, the company is evaluating the feasibility of sale of the entire (effective 20 per cent) stake held by the company in Shriram Capital.”
Piramal Enterprises is now exploring selling entire stake in Shriram Capital days after exiting Shriram Transport Finance.
For about Rs 2,305 crores, Piramal Enterprises has already sold its entire stake in Shriram Transport Finance Company on June 17, 2019. It occurred after it had bought the shares in a block deal to institutional investors.
Read EquityPandit’s Nifty Outlook for the Week