Short covering refers to the buying of shares in order to close an existing short position or a position that has been sold. In Monday’s trading session, five stocks saw top short covering.
Piramal Enterprises has announced plans to sell its entire stake in Shriram Investment Holdings Private Limited to Shriram Ownership Trust for Rs 1,440 crore. The sale is part of Piramal’s strategy to monetize non-core assets and strengthen its balance sheet. The transaction is expected to be completed by the end of this financial year, subject to regulatory approvals. In the previous financial year, Shriram Investment Holdings Private Limited did not contribute to Piramal Enterprises’ revenue.
