GMM Pfaudler hits record high on Dec qtr profit surge

Gmm Pfaudler

24/01/2020 07:28

** Shares of alloy steel, glass-lined equipment manufacturer
 GMMP.NS  rise as much as 14.73% to 2,475 rupees, a record high
    ** Co on Thursday posted an over 77% rise in Dec qtr profit,
helped by revenue surge in glass-line and heavy engineering
segment  urn:newsml:reuters.com:*:nFWN29S069
    ** Expect the robust pace of growth to continue, driven by
healthy order backlog in the domestic glass-line market, uptrend
in exports, Ambit Capital Research said in a note
    ** About 123,000 shares change hands, nearly 6 times the
30-day average, as of 0713 GMT
    ** Co shares rose 58.49% last year and are up 31.75% so far
this year

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8067496031); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))