Shriram City hits record high on Piramal investment
May 02 2014 , Mumbai
Piramal's investment is aimed as a strategic involvement rather than a passive financial investor, boosting Shriram's outlook, said an analyst with a leading domestic brokerage.
Piramal has been buying shares in other companies belonging to the Shriram Group.
Last month, it agreed to buy a 20 percent stake in unlisted Shriram Capital for $334 million. Last year, Piramal bought a 9.9 percent stake in Shriram Transport Finance Co Ltd.