News for GMM Pfaudler Limited (GMMPFAUDLR.NS)

GMM Pfaudler reports stable revenue and improved EBITDA margins in Q3 FY25, despite challenges in the chemical industry.

Standard Glass Lining Technology (SGLT) IPO subscription open till January 8, with strong demand, but caution advised for investors.

GMM Pfaudler acquires 51% stake in Polish company to establish new manufacturing facility, enhancing global market presence.

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Aug 07, 2024 / 12:30PM GMTOperator Ladies and gentlemen, good day, and welcome to Q1 FY25 conference call of GMM Pfaudler Limited. (Operator Instructions). I no

Two portfolio investors of GMM Pfaudler Ltd. sold stakes worth Rs 557.3 crore through open market transactions on Wednesday. The buyers included Infinity Partners. Atreides Investments BV and Geranium Investments Ltd. divested 0.92% and 8.25% respectively, according to the block deal data on the NSE. Foreign portfolio investor Atreides sold 4.12 lakh shares and Geranium offloaded 37.1 lakh shares at Rs 1,352 apiece. As of June, Geranium held an 8.25% stake in the chemical processing company.

GMM Pfaudler shares climbed 12.71 per cent to hit high of Rs 1,530 on NSE. Data showed a total of 41,21,960 shares worth Rs 557.29 crore changed hands on the counter via block deals.

Around 84,000 shares had changed hands on the counter on the BSE, while 3.15 million shares had changed hands on the NSE till 10:15 AM.

The NSE Nifty index was trading 15.75 points down at 25002.0

Benchmark key indices gained over 3% each on Wednesday. The Nifty Bank saw its best percentage gain since February 1, 2021. HDFC Bank, SBI, L&T were among the most active stocks on NSE in value terms. The market breadth favoured bulls with 2,597 stocks ending in the green, while 1,221 names settling with cuts.

The 30-share BSE Sensex pack nosedived 4,093 points or 5.35 per cent to trade at 72,375, while the broader NSE Nifty index moved 1,116 points or 4.80 per cent down to 22,148 level.

Nifty on Monday ended 32 points higher to form a small positive candle on the daily chart with minor upper and lower shadow. During the day, Nifty managed to hold on to the support zone of 21,900 – 21,850 where support parameters in the form of the 40-day average and the previous swing low were placed.

Nifty on Wednesday ended 338 points lower to slip below its immediate support of short-term moving average i.e. 20-DEMA and also breached the trendline support.

Nifty on Monday fell 161 points to form a bearish Engulfing pattern on the daily charts to hint at short-term top reversal for the market. The short-term trend of Nifty seems to have turned down and the next lower levels to be watched are around 22,100-22,050 levels.

The blue-chip index NSE Nifty50 added 0.14% to 21,983, while the BSE Sensex gained 0.27% to 72,500. Both the benchmarks gained about 1% in February. In a volatile trading session on monthly derivative expiry, Nifty ended 32 points higher just above the 21-day Exponential Moving Average (21EMA). However, the prevailing sentiment appears somewhat negative from the current level.

Ahead of the February series expiry, Nifty on Wednesday ended 247 points lower below the 22,000 level and around its 20-DEMA. Observing the daily chart, the index has been navigating within a rising channel.

Stocks to watch: Check out the companies making headlines before the opening bell today, on February 2, 2024.

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Based on the OI percentage, 68 stocks were on the short-covering list. These include Birlasoft, Dr Reddy's Laboratories, United Spirits, Can Fin Homes and Alkem Laboratories