GMM Pfaudler all set to expand its manufacturing footprint in Telangana; stock trades flat

27 May 2022 , 10:14 AM

GMM Pfaudler Limited informed that the company’s senior management team, led by Mr. Thomas Kehl, CEO of Pfaudler’s International Business met with the Telangana Minister for Industries, Mr. KT Rama Rao, Mr. Jayesh Ranjan, Principal Secretary, and Mr. Shakthi Nagappan, Director – Life Sciences and Pharma at the World Economic Forum in Davos, Switzerland.

During the said meeting, the management put forward its commitment to increase its manufacturing footprint in the state. The company further expressed its interest to partner with the Telangana State Government in the upcoming Hyderabad Pharma City.

Mr. KT Rama Rao commented, “I’m pleased to note about the phenomenal growth of GMM Pfaudler in Hyderabad and its expansion plans- I’m sure that the Hyderabad operations will continue to play a crucial role in the global aspirations of GMM Pfaudler.”

Mr. Thomas Kehl added, “Pfaudler’s Hyderabad facility will play an important role. We will continue to invest in the plant to cater to the rapidly growing API Industry and are confident of strengthening our leadership position in the region supported by the business-friendly Telangana State Government.”

GMM Pfaudler is currently trading at Rs4,313.70 down by Rs53.7 or 1.23% from its previous closing of Rs4,367.40 on the BSE. The scrip opened at Rs4,421.55 and has touched intraday high and low of Rs4,443.60 and Rs4,300 respectively.