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• Emkay Global Financial has recommended a buy rating on Piramal Enterprises with a target price of Rs 1180.
• PIEL's Q2FY24 performance showed progress towards its medium-term growth and profitability goals, but a one-off loss led to a miss in PAT.
• The stock is attractively valued at a Sep-25E Core P/BV of ~0.7x and making decent progress towards its goals.