GMM Pfaudler shines as its arm approves execution of joint venture agreement with JDS
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GMM Pfaudler is currently trading at Rs. 1598.95, up by 31.10 points or 1.98% from its previous closing of Rs. 1567.85 on the BSE.
The scrip opened at Rs. 1565.00 and has touched a high and low of Rs. 1615.00 and Rs. 1550.00 respectively. So far 4767 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1,763.24 on 04-Jan-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. 1635.00 and Rs. 1336.00 respectively. The current market cap of the company is Rs. 6875.41 crore.
The promoters holding in the company stood at 54.95%, while Institutions and Non-Institutions held 17.94% and 27.11% respectively.
GMM Pfaudler’s subsidiary-- GMM Pfaudler US Inc., USA has approved the execution of a joint venture agreement with JDS Manufacturing (JDS), USA. GMM Pfaudler US Inc., USA is going to acquire 51% stake of JDS, USA at consideration of $0.5 million (Rs 3.9 crore) and the transaction will be funded through internal accruals. Joint venture with JDS will further develop the company’s high-margin service business and is expected to strengthen its market position in the Americas. JDS manufactures glass-lined spare parts and components and also provides re-glassing services.
GMM Pfaudler is a leading supplier of engineered equipment and systems for critical applications in the global chemical and pharmaceutical markets.
