GMM Pfaudler jumps 13% after over 3 mn shares change hands via block deals

Around 84,000 shares had changed hands on the counter on the BSE, while 3.15 million shares had changed hands on the NSE till 10:15 AM.

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Shares of corrosion resistant equipment manufacturer GMM Pfaudler surged 12.8 per cent to Rs 1,508.75 in the intraday trade on Wednesday. The rally in the stock price came after multiple block deals on the counter.

Till 10:15 AM, around 84,000 shares had changed hands on the counter on the BSE, while 3.15 million shares had changed hands on the NSE. Together, roughly, 3.23 million shares have changed hands thus far in trade.

At the same time, GMM Pfaudler share price was quoting 11.3 per cent higher on the BSE at Rs 1,510.7 per share as against a 0.06 per cent dip in the benchmark BSE Sensex index.

The buyers and sellers in the deal could not be ascertained immediately.

GMM Pfaudler provides technologies, systems, and services for the chemical and pharmaceutical industries, among others. The company designs, manufactures, installs and maintains corrosion-resistant equipment and chemical process systems for these industries.

With its footprint spread across four continents, the company has 20 manufacturing facilities around the world.

Financially, GMM Pfaudler reported revenue from operations of Rs 785.20 crore in the first quarter of financial year 2025 (Q1FY25), down nearly 14 per cent year-on-year (Y-o-Y) compared to Rs 912.27 crore in the same quarter last year.

Profit before tax (PBT) for the quarter stood at Rs 41.14 crore, compared to a PBT of Rs 80.10 crore in the year-ago period.

Meanwhile, profit for Q1FY25 nearly halved to Rs 23.9 crore, down more than 51 per cent from Rs 49.99 crore profit it had posted in Q1FY24.

In terms of share price gains, data from the BSE showed that shares of GMM Pfaudler have gained 19.91 per cent in the past three month period, compared to an 8.71-per cent gain in the BSE Sensex, and the 8.36 per cent gain in the BSE Industrials index.

In contrast, shares of the company have given negative returns of 4.03 per cent in the year-to-date period, as compared to gains of 13.07 per cent in the BSE Sensex and a 37.53 per cent gain in the BSE Industrials index.

The shares of the company were significantly away from its 52-week high of Rs 1,897.95 that it had hit on September 28, 2023, while its 52-week low, which it had hit on June 5 this year, stood at Rs 1,143.10.