Venkys (India) Ltd, CSB Bank Ltd, Sun Pharma Advanced Research Company Ltd, Zydus Wellness Ltd are among the other stocks to see a surge in volumes on NSE today, 10 May 2021.

GMM Pfaudler Ltd registered volume of 5.31 lakh shares by 14:19 IST on NSE, a 15.46 fold spurt over two-week average daily volume of 34378 shares. The stock rose 13.42% to Rs.4,580.00. Volumes stood at 34632 shares in the last session.

Venkys (India) Ltd registered volume of 9.44 lakh shares by 14:19 IST on NSE, a 11.42 fold spurt over two-week average daily volume of 82609 shares. The stock rose 4.23% to Rs.1,708.00. Volumes stood at 71236 shares in the last session.

CSB Bank Ltd recorded volume of 29.69 lakh shares by 14:19 IST on NSE, a 9.49 times surge over two-week average daily volume of 3.13 lakh shares. The stock gained 7.41% to Rs.276.70. Volumes stood at 3.5 lakh shares in the last session.

Sun Pharma Advanced Research Company Ltd recorded volume of 142.16 lakh shares by 14:19 IST on NSE, a 8.9 times surge over two-week average daily volume of 15.98 lakh shares. The stock gained 19.98% to Rs.221.85. Volumes stood at 20.12 lakh shares in the last session.

Zydus Wellness Ltd registered volume of 4.64 lakh shares by 14:19 IST on NSE, a 8.31 fold spurt over two-week average daily volume of 55822 shares. The stock rose 2.16% to Rs.2,164.00. Volumes stood at 93339 shares in the last session.

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GMM Pfaudler announced that CRISIL has removed the Ratings from 'Watch with Developing Implications'. It has reaffirmed the rating of the bank facilities/debt instruments of the Company and assigned an outlook to the long -term rating as under:

Total Bank Loan Facilities Rated Rs. 200 crore (enhanced from Rs. 100 crore)
Long Term Rating - CRISIL AA-/ Stable
Short Term Rating - CRISIL A1+

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GMM Pfaudler will hold a meeting of the Board of Directors of the Company on 28 May 2021.

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The company said that it had participated in the e-auction process for sale of assets (factory land, building, plant and machinery, office equipment, computers, furniture and fixtures, vehicles and capital work in progress) owned by HDO Technologies (in liquidation). It was declared as the successful bidder by the liquidator.

The acquired facility, spread over 11.9 acres with 7 manufacturing bays, is located in Vatva, Ahmedabad and is equipped to manufacture a wide range of heavy engineering equipment with a crane lifting capacity of 200 metric tonnes, deep-hole drilling (up to 1 meter) capabilities, plate rolling capabilities up to 110 milimeters, strip cladding capabilities, orbital welding capabilities, a 308.6 square meters clean room for fabrication of high alloy materials, vertical turret lathes and other machine tools.

The tentative date for the completion of the transaction is 30 April 2021, GMM said in a BSE filing made after market hours yesterday.

Commenting on the acquisition, Tarak Patel, managing director of GMM Pfaudler, said this acquisiton will significantly enhance our capacity and augment our capabilities in heavy engineering and at the same time will free up capacity at our Karamsad facilty to expand our glass lined business.

GMM Pfaudler's branded product lines cover a broad portfolio that includes glass-lined & alloy systems, filtration & drying, engineered column systems, lab & process glass, sealing technology and fluoropolymers. The company caters to customers in the chemical, pharmaceutical and food industries.

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