GMM Pfaudler moves up as its arm acquires 51% stake in GMM Pfaudler JDS
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GMM Pfaudler is currently trading at Rs. 1912.90, up by 16.95 points or 0.89% from its previous closing of Rs. 1895.95 on the BSE.
The scrip opened at Rs. 1881.40 and has touched a high and low of Rs. 1919.95 and Rs. 1881.40 respectively. So far 106 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2189.50 on 07-Nov-2022 and a 52 week low of Rs. 1,249.75 on 14-Jun-2022.
Last one week high and low of the scrip stood at Rs. 1967.00 and Rs. 1879.50 respectively. The current market cap of the company is Rs. 8523.66 crore.
The promoters holding in the company stood at 56.06%, while Institutions and Non-Institutions held 17.32% and 26.62% respectively.
GMM Pfaudler’s wholly owned subsidiary -- GMM Pfaudler US Inc., USA has incorporated a joint venture company with JDS Manufacturing Inc in USA named ‘GMM Pfaudler JDS’ and has completed the acquisition of 51% shareholding of GMM Pfaudler JDS on November 28, 2022. The joint venture will help both the parties to further develop the high-margin service business and is expected to strengthen GMM Pfaudler’s market position in the USA. GMM Pfaudler US Inc and JDS holds 51% and 49% respectively in GMM Pfaudler JDS.
GMM Pfaudler is a leading supplier of engineered equipment and systems for critical applications in the global chemical and pharmaceutical markets.
