PL Technical Research: Accumulate This Mid-Cap Stock

Brokerage firm Prabhudas Lilladher has suggested adding more shares of GMM Pfaudler Ltd based on the technical analysis. The technical analysis is done by Vaishali Parekh, Vice President of Technical Research, Prabhudas Lilladher Pvt. Ltd.

In the technical research note, Parekh mentioned that the company stock price is showing consolidation. "The stock has been in consolidation for quite some time maintaining the support near Rs 1,445 zone and with the RSI showing improvement in the bias which is gradually on the rise has shown strength for further rise in the coming days."

She has suggested that "One can accumulate the stock of GMM Pfaudler Ltd for an initial upside target of Rs 1,570 and further strength indicates that it can carry on the momentum till Rs 1,650-1,670 zone. The stop loss can be maintained near Rs 1,445 levels.

About GMM Pfaudler Ltd

GMM Pfaudler Ltd is a mid-cap company manufacturing engineering equipment, and glass-lined equipment for the chemical processing industry and pharmaceutical and chemical companies. It is headquartered in Karamsad, Gujarat, and was founded in 1962. Over the years, it has diversified its product portfolio to include: Glass-Lined Equipment, Mixing Systems, Filtration and Drying Equipment, Engineered Systems, Heavy Engineering, and Acid Recovery. The company has a market capitalisation of Rs 6,635.69 crore.

Share price movement

The latest market price of GMM Pfaudler Ltd stock is Rs 1,478.80 per share, down by nearly 0.06 per cent over the previous day's closing. The 52-week high price is Rs 2,189.50 per share while the 52-week low price is Rs 1,249.75 per share. In the last one year, the share declined marginally by 0.69 per cent while in three years it has rallied by 22.19 per cent.

Disclaimer:

The stocks have been picked from the brokerage report of Prabhudas Lilladher Pvt Ltd. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.