Shares of GMM Pfaudler hit 5% upper circuit in early trading today after Plutus Wealth Management bought shares of the glass-lined equipment maker. GMM Pfaudler stock price has risen 10.25% in last 2 days.
As per data available on the exchanges, Plutus Wealth Management LLP acquired 1.65 lakh shares in the company at Rs 3,528.75 per share.
Following the update, share price of GMM Pfaudler opened with a gain of 4% today at Rs 3,975 and touched an intraday high of Rs 4012.85, rising 5% against the last close of Rs 108.30 on BSE. GMM Pfaudler shares also touched an intraday low of Rs 3,800 during the session.
GMM Pfaudler shares have touched a 52-week high of Rs 6,913.85 on 12 August 2020 and a 52-week low of Rs 1,357.50 on 1 November 2019, respectively.
GMM Pfaudler stock has gained 114% since the beginning of the year. The firm's market capitalisation stood at Rs 5,865.78 crore as of today's session. Currently, the GMM Pfaudler stock is trading higher than 200-day moving averages but lower than 5, 20, 50 and 100-day moving averages.
The supplier of process equipment to the pharmaceutical and chemical industry segments recently concluded Offer for Sale (OFS) of share transaction by the promoter entity, of Rs 3,500 per share. Through the OFS, promoters planned to offload 17.6% stake in the company.