The shares of GMM Pfaudler Limited gained 4 per cent in early trade on Wednesday after the company emerged as a successful bidder for the assets of HDO Technologies Limited.
At 10:17 am, it was quoting ₹4,405 on the BSE, up ₹184.55 or 4.37 per cent. It hit an intraday high of ₹4,550 and an intraday low of ₹4,283.45. It opened at ₹4,283.45 as against the previous close of ₹4,220.45.
On the NSE, it was trading at ₹4,402.75, up ₹182.95 or 4.34 per cent.
The company on Tuesday announced that it will be acquiring the assets of HDO Technologies Ltd, which is in liquidation process.
The technology process solutions provider will acquire assets including land, building, plant and machinery for a consideration of ₹58.46 crore. HDO Technologies Limited’s manufacturing facility is spread across 11.9 acres in Vatva, Ahmedabad.
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The acquisition will enhance capacity and augment GMM Pfaulder’s capabilities in heavy engineering, it said.