GMM Pfaudler shares hit upper circuit, jump 10% in 2 days

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GMM Pfaudler share price gained 5 percent intraday on September 30 hitting upper circuit of Rs 4.12.85 per share on BSE after Plutus Wealth Management bought shares of the glass-lined equipment maker.

The firm bought 1,65,000 shares of GMM Pfaudler at Rs 3,528.75 per share, according to data available on NSE.

The stock was trading at Rs 4,007, up Rs 185.20, or 4.85 percent. It has touched an intraday high of Rs 4,012.85 and an intraday low of Rs 3,800. It has jumped 10 percent in the last 2 days after plunging over 35 percent in the last 7 days.

The scrip witnessed spurt in volume by more than 3.36 times and was trading with volumes of 63,143 shares, compared to its five day average of 28,321 shares, an increase of 122.95 percent.

According to Moneycontrol SWOT Analysis powered by Trendlyne, FII / FPI or institutions increasing their shareholding with the company efficient in managing assets to generate profits - ROA improving since last 2 years

However, Moneycontrol technical rating is very bearish with moving averages and technical indicators being bearish.