GMM Pfaudler share price tanks 11% on reports of a block deal

GMM Pfaudler share price tanked 11% in morning today on reports of a block deal, but recovered soon after. GMM Pfaudler shares opened at an intraday low of ₹1,350 as compared to the previous close of ₹1,523. At the time of writing this copy, GMM Pfaudler share price was at ₹1,490.65, down ₹32.45, or 2.13%.

As per media reports, GMM Pfaudler shares changed hands in the open market via a block deal. According to a Business Standard report, around 5.92 million equity shares, equalling 13% of total equity of GMM Pfaudler, changed hands on the BSE. 

The names of the buyers and sellers are not known right now.

The GMM Pfaudler stock has been rallying in last 2 weeks, gaining almost 3%, but has clocked in losses of 5% in 2023 so far.

GMM Pfaudler's net profit stood at ₹16.86 on a revenue of ₹280.15 for the quarter ended June 30, 2023.