Pennar Industries surges post order win

Pennar Industries climbed close to 8 per cent in intraday trade on Thursday after the company and its subsidiary received orders worth Rs. 514 crore across various verticals.

The company has received orders amounting to Rs. 306 crore from its various segments like building products, solar and CRSS products, industrial components, hydraulics and railway products. The company has received these orders from new customers. Also, there were substantial repeat orders which show that the company enjoys a healthy relationship with its customers.

Its subsidiary company, Pennar Engineered Building Systems received orders worth Rs. 208 crore for its various products including warehouse, factory buildings, piperack structure, hanger building, solar structures and communication towers.

On Thursday, Pennar Industries closed at Rs. 47.15 per share, up Rs. 1.90 or 4.30 per cent on NSE. The stock opened at Rs. 47.1 from a previous close of Rs. 45.25 and touched an intraday high of Rs. 48.90 per share on NSE. So far, the stock has attracted a traded volume of 4,69,843 shares on NSE.