GMM Pfaudler jumped 4.70% to Rs 4,418.70 after the company announced the acquisition of assets of HDO Technologies for a consideration of Rs 58.46 crore.
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.