India's Piramal Enterprises jumps on higher AUM guidance; CLSA upgrades

Piramal Enterprises

07/05/2025 07:54

** Shares of Piramal Enterprises PIRA.NS surge 7.4% to 1,034.4 rupees

** Stock of the non-banking financial company on track for best day in nearly four months

** Co's net interest income - difference between interest earned and paid - up 24% y/y

** Co expects assets under management (AUM) growth of 25% in FY26; it grew 17% against guidance of 15% in FY25

** Share of its legacy AUM dropped to 9% in FY25 from 66% in FY22, in-line with co's target

** Analysts at CLSA see the "run-down of its legacy book" and healthy operating profit as key positives from results

** Upgrades stock to "hold" from "underperforming", lifts TP to 1,030 rupees from 925 rupees

** Analysts' avg rating on stock is "sell", median PT is 920 rupees - data compiled by LSEG

** Stock has gained 13% since reporting Q3 results

 (Reporting by Manvi Pant in Bengaluru)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))