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Infinity Partners Buys 9.17% Stake In GMM Pfaudler

Shares of GMM Pfaudler closed 3.27% higher at Rs 1,401.75 apiece on the NSE.

Neha Aravind, Vrathik Jain

Representational image. (Source: Envato)

Two portfolio investors of GMM Pfaudler Ltd. sold stakes worth Rs 557.3 crore through open market transactions on Wednesday. The buyers included Infinity Partners.

The two investors, Atreides Investments BV and Geranium Investments Ltd., divested 0.92% and 8.25%, respectively, according to the block deal data on the NSE. Foreign portfolio investor Atreides sold 4.12 lakh shares and Geranium offloaded 37.1 lakh shares at Rs 1,352 apiece.

As of June, Geranium held an 8.25% stake in the chemical processing company. Infinity Partners bought a 9.17% stake.

Shares of GMM Pfaudler closed 3.27% higher at Rs 1,401.75 apiece on the NSE, compared to a 0.14% advance in the benchmark Nifty.

Also Read: India's Top 10 Most-Valued Firms Gains Rs 22,000 Crore In Market Cap As Bharti Airtel, Infosys

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WRITTEN BY
Neha Aravind
Neha Aravind is a desk writer at NDTV Profit, who covers business and marke... more
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Vrathik Jain
Vrathik Jain is a Research Analyst at NDTV Profit, Tracks Insurance, Sugar,... more
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