India's GMM Pfaudler rises on completing acquisition

Gmm Pfaudler

30/11/2022 06:08

** Shares of GMM Pfaudler Ltd  GMMP.NS  rise as much as 3.9%
to 1,969.3 rupees, their biggest intraday pct gain since Nov. 16
    ** The industrial equipment maker entered a joint venture
with JDS Manufacturing, USA, and has completed the acquisition
of 51% shareholding of GMM Pfaudler JDS LLC on Nov. 28, the co
said in an exchange filing on Tuesday
    ** About 86,600 shares change hands by 11:34 a.m. IST vs
30-day avg of nearly 103,900 shares
    ** All four analysts covering the stock have a "buy" or
"strong buy" rating; median PT is 2,420 rupees - Refinitiv data
    ** Stock up 17% so far this year, as of last close
 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))