Stock to buy, Sept. 14 -- After registering a 77% rally in three months, shares of GMM Pfaudler Limited are set for another 39% upside. Organisational restructuring, diversification, and strong EBITDA growth are likely to drive growth for the industrial equipment maker in the coming quarters, according to a report by InCred Equities.

GMM Pfaudler has successfully diversified its product portfolio, rationalised footprint and even established a segment-wise operating model. The company has now chalked out a 2-year plan to improve EBITDA-to-PAT flow via debt refinancing, tax restructure optimisation and simplifying its entity structure.

The stock is likely to benefit from improved product mix and strong order pipeline, which includes proje...