GMM Pfaudler rallies after block deal

GMM Pfaudler surged 10.89% to Rs 1504.80 after the conuter witnessed block deal in early trade today.

On the BSE 52 Lakh shares traded in the counter as against an average trading volume of 7,606 shares traded in the past two weeks.

On the NSE 27.81 lakh shares traded in the counter as against an average trading volume 1,47,903 shares traded in the past three months.

About 41.2 lakh shares or 9.2% stake changed hands at price of Rs 1,352 per share, the estimated transaction value is to be Rs 557.3 crore. The buyers and sellers were not disclosed immediately.

As on 30 June 2024, the promoters of GMM pfaudler held a 25.18% stake in the company.

GMM Pfaudler's principal activity is the manufacture of corrosion-resistant glass lined equipment used primarily in the chemical, pharmaceutical and allied industries. The company also manufactures flouro-polymer products and other chemical process equipment such as agitated nutsche filters, filter driers, wiped film evaporators and mixing systems.

The companys consolidated net profit declined 50.1% to Rs 25.26 crore in Q1 FY25 as compared with Rs 50.65 crore in Q1 FY24. Net sales fell 13.9% YoY to Rs 785.20 crore in Q1 FY25.

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