PIEL's board approved the simplification of its corporate structure by creating two separate listed entities in Financial and Pharmaceutical Services, subject to shareholder, creditor, and regulatory approvals. The demerger would optimize the capital structure for each business and enable both to independently pursue growth opportunities. We remain positive on PIEL on the back of: a) its fully integrated CDMO presence, b) niche portfolio, with global distribution in the Complex Hospital Generics (CHG) space, c) strong brands with an established pan-India distribution network, d)...