Shares of GMM Pfaudler saw a substantial increase of 11% on August 28 following a major block deal. The transaction involved the exchange of 41.2 lakh shares, amounting to 9.2% of the company’s equity, valued at ₹557.3 crore.
The block deal was executed at a floor price of ₹1,352 per share, which is a slight discount compared to the previous closing price. This significant transaction, conducted in the pre-market window, attracted considerable attention and led to a notable rise in the company’s stock price.
By 9:45 am, GMM Pfaudler’s shares were trading 11.10% higher at ₹1,508.00 on the NSE. This sharp increase reflects market enthusiasm following the substantial equity movement.
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GMM Pfaudler