India's GMM Pfaudler hits over 1-month high on acquisition deal

Gmm Pfaudler

09/12/2022 06:53

** Shares of industrial equipment maker GMM Pfaudler Ltd 
 GMMP.NS  rise as much as 2.6% to 1999 rupees, highest since Nov
7 
    ** Stock set for third consecutive session of gains
    ** Co's wholly-owned subsidiary Pfaudler GmbH to acquire
Mixel France SAS and its wholly-owned subsidiary Mixel Agitator
Co. Ltd, it said in an exchange filing
    ** Cost of 100% shareholding acquisition will be 7 million
euros ($7.40 million)
    ** All four of the analysts covering the stock recommend a
"buy" rating ;median PT is 2,420 rupees - Refinitiv data
    ** Up to last close, stock up 20.15% YTD, outperforming the
Nifty Infrastructure  .NIFTYINFR  index which rose 10%
($1 = 0.9460 euros)
 (Reporting by Akansha Victor in Bengaluru)
 ((Akansha.Victor@thomsonreuters.com; Mobile: +919654878265;))