GMM Pfaudler slumps 10% in four days

GMM Pfaudler tumbled 4.44% to Rs 3,598.20, extending losses for fourth consecutive session.

The stock has lost 10.20% in four sessions from its recent closing high of Rs 4,007.15 on 30 September 2020.

On a year-to-date (YTD) basis, the stock has surged 92.18% while the benchmark S&P BSE Sensex lost 3.35% during the same period.

In a BSE filing during market hours today, GMM Pfaudler announced that it inaugurated its glass lined equipment manufacturing facility in Hyderabad on 6 October 2020. The company had acquired the facility from De Dietrich Process Systems on 1 July 2020. The facility is spread across an area of 6 acres.

 

In addition to this facility, GMM Pfaudler also operates two facilities in West India, one at Karamsad (Gujarat) and the other at Pune (Maharashtra).

GMM Pfaudler is a supplier of process equipment to the pharmaceutical and chemical industries. The company has a diversified product portfolio which includes mixing systems, filtration & drying equipment, engineered systems and heavy engineering equipment.

The company reported 8.5% rise in consolidated net profit to Rs 19.19 crore on 2.8% increase in net sales to Rs 154.43 crore in Q1 June 2020 over Q1 June 2019.

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