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GMM Pfaudler dips 14% on profit booking post March quarter results

The stock had rallied 95 per cent in the past two months

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The index is down 11% from its record high of 12,352 on January 17. The market is likely to slide further, say technical analysts.

SI Reporter Mumbai
Shares of GMM Pfaudler dipped 14 per cent to Rs 3,335 on the BSE on Tuesday after the company reported 13 per cent year on year (YoY) decline in consolidated net profit at Rs 11.6 crore for the quarter ended March 2020 (Q4FY20), due to lower revenue. The company -- a leading supplier of process equipment to the pharmaceutical and chemical industry segment -- had profit of Rs 13.3 crore in the year-ago quarter.

In the past two months, the stock has rallied 95 per cent, as compared to 18 per cent rise in the S&P BSE Sensex till

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First Published: May 26 2020 | 11:07 AM IST

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