GMM Pfaudler trades jubilantly on getting nod to acquire Hydro Air Research Italia

GMM Pfaudler is currently trading at Rs. 1568.00, up by 224.80 points or 16.74% from its previous closing of Rs. 1343.20 on the BSE.

The scrip opened at Rs. 1428.00 and has touched a high and low of Rs. 1611.00 and Rs. 1428.00 respectively. So far 105772 shares were traded on the counter.

GMM Pfaudler
GMM Pfaudler

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. 1611.00 and Rs. 1336.00 respectively. The current market cap of the company is Rs. 6858.97 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 has received an approval for the proposal for acquisition of Hydro Air Research Italia S.r.l. (HARI) based in Milan, Italy. HARI’s technology, application expertise and process know-how are complementary to the company’s system’s business and will help enhance and improve its work product and offerings. Cost of acquisition is 4.96 million euro. The said acquisition is expected to be completed by August 2022. The Board of Directors of the company at their meeting held on July 28, 2022 has approved the same.

GMM Pfaudler is a leading supplier of engineered equipment and systems for critical applications in the global chemical and pharmaceutical markets.

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