Pennar Industries gains 13 per cent on strong order book

The stock of Pennar jumped 13 per cent intra-day as the company announced orders bagged for the months of June and July 2019.

Pennar Industries has secured orders worth Rs 538 crore during the months of June and July 2019 across its various business verticals. The company has received orders across business verticals including the railways business, pre-engineered building division, tubes division, industrial components division, environmental and water treatment division.

Pennar Industries is one of India’s leading industrial organisations offering specialised engineering steel solutions. It is a multi-location, multi-product company manufacturing cold rolled steel strips and tubes, cold rolled formed sections, electrostatic precipitators, pre-engineered building systems, sheet metal components and road safety systems.

At closing hours on Monday, the stock was trading at Rs.29, higher by 10.90 per cent. The stock hit an intra-day high of Rs. 30.20 and intra-day low of Rs. 25.95. Its 52-week high was Rs. 48.50 and 52-week low was Rs. 23.25 on the BSE.