GMM Pfaudler

Prominent promoters have recently offloaded stake in companies like TVS Motor, GMM Pfaudler via block deals, few others plan to do so in the near future.

The promoter of engineering firm GMM Pfaudler on Friday divested 17.3 per cent stake in the company for Rs 1,324 crore through open market transactions. Pfaudler Inc offloaded a total of 77,85,819 shares on both BSE and NSE, amounting to 17.32 per cent stake in the company, as per bulk deal data available with the National Stock Exchange (NSE) and BSE. The shares were sold in the range of Rs 1,700.14 - Rs 1,702.87 apiece on NSE and BSE, taking the transaction value to Rs 1,323.97 crore. Post the transaction, the shareholding of Pfaudler Inc will reduce to 14.56 per cent from 31.88 per cent and the total promoter shareholding will fall from 56.06 per cent to 38.74 per cent in the company, as per shareholding data with the exchanges. The buyers included Plutus Wealth Management, Integrated Core Strategies (Asia) Pte, Aditya Birla Sun Life Mutual Fund, among others. On Friday, shares of GMM Pfaudler closed 15.21 per cent lower at Rs 1,632 per scrip on NSE and Rs 1,643.65 per piece on

On Thursday, Pfaudler had announced it is selling 13.4 million shares of GMM, representing 29.88% stake, at a floor price of Rs 1,700 apiece

Shares of GMM Pfaudler fell as much as 18.1%, their worst intraday percentage fall in nearly five years, after a report said that one of its promoters will sell the bulk of its stake

Till 09:30 AM, a combined around 11.18 million shares, representing nearly 25 per cent of the total equity of the company, had changed hands on the NSE and BSE

Among individual stocks, the technical & derivative analyst from HDFC Securities recommends to buy Triveni Engineering and GMM Pfaudler.

The technical & derivative analyst from HDFC Securities expects Nifty to find support around 18,100 for now.

The strong growth is expected owing to the increasing market size, investments, and exports in the pharmaceuticals, specialty chemicals, and agrochemical industries in the next 5 years

A total of 68 companies are slated to post their March quarter results today, including Alkem Labs, AstraZeneca Pharma India, Stove Kraft, Emami, Thermax and VIP Industries

The facility is located in Vatva, Ahmedabad and is equipped to manufacture a wide range of heavy engineering equipment

Analysts prefer stocks trading above the 200-DMA, since they tend to perform better in a trending market. Risk management, hence, becomes comparatively easier

The stock was locked in the 5 per cent upper circuit at Rs 3,821, rebounding 11 per cent from its intra-day low of Rs 3,458 on the BSE

The stock continues to fall, and is down over 36 per cent since September 15

The stock began to fall after GMM Pfaudler announced on Monday that promoters plan to sell 17.6 per cent stake in the company

All that happened in the markets today

GMM Pfaudler promoters Pfaudler Inc, Millars Machinery, and Urmi Patel are selling 17.59 per cent of the company's total equity

Going ahead, most analysts expect the mid-and small-cap segments to continue doing well as compared to their large-cap peers, which they feel are now fairly valued

The company expects to complete the transaction by November this year

Process equipment manufacturer GMM Pfaudler on Thursday said it has acquired a 54 per cent stake in its parent firm Pfaudler Group for a consideration of around $27.4 million

The stock had rallied 95 per cent in the past two months