PEL
CLSA ON PIRAMAL ENT : 01.09.2021
* Financial Services On A Different Path, Long Revenue Stream For Pharma
* It Is A Top-three Lender To The Real Estate Segment
* DHFL AcqN Is Expected To Enlarge Its Loan Book, Improve Return On Equity
* Should See An 18% FY21-24 EBITDA CAGR For Its Pharma Business
* INITIATE OUTPERFORM TARGET: 2,960
