India's GMM Pfaudler rises on nod to acquire balance stake in GMM International

Gmm Pfaudler

22/09/2022 07:37

** Shares of industrial equipment maker GMM Pfaudler
 GMMP.NS  rise as much as 4.08% to 1917.95 rupees, highest since
Sept. 16
    ** Stock posts biggest intraday pct gain since Sept. 13
    ** Co gets approval for acquisition of balance 46% stake in
GMM International S.à.r.l from the Secretary of State for
Business, Energy and Industrial Strategy, United Kingdom
 urn:newsml:reuters.com:*:nFWN30T00J 
    ** More than 167,854 shares change hands by 0625 GMT vs
30-day avg of 309,326 shares
    ** All 3 analysts covering the stock have a "strong buy"
rating; median PT is 2,285 rupees - Refinitiv data
    ** Stock up 13.7% YTD up to last close
 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com;))