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Pennar Industries soars as RBI increases FII limit in the company

Pennar Industries Ltd. | Steel & Iron Products | Metals & Mining | BSE: 513228 | NSE: PENIND

20 Nov 2014 Evaluate

Pennar Industries is currently trading at Rs. 61.25, up by 1.90 points or 3.20% from its previous closing of Rs. 59.35 on the BSE.

The scrip opened at Rs. 61.70 and has touched a high and low of Rs. 62.40 and Rs. 60.50 respectively. So far 245179 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 66.90 on 11-Nov-2014 and a 52 week low of Rs. 18.25 on 24-Dec-2013.

Last one week high and low of the scrip stood at Rs. 62.60 and Rs. 57.75 respectively. The current market cap of the company is Rs. 740.75 crore.

The promoters holding in the company stood at 39.41% while Institutions and Non-Institutions held 22.17% and 38.42% respectively.

Reserve Bank of India (RBI) has increased foreign institutional investors' (FIIs) investment limit in Pennar Industries to 35% of its paid-up capital. RBI has notified that the foreign share holding by FIIs/Registered Foreign Portfolios Investors (RFPIs) in the company has gone below the revised threshold limit stipulated under the extant FDI Policy. Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect.

The company has already passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit from 24 per cent to 35 per cent for the purchase of its equity shares and convertible debentures by FIIs.

Pennar Industries is engaged in the manufacturing of Cold Rolled Steel Strips (CRSS) and value-added products under Cold Rolled Formed Sections (CRFS) like precision tubes, engineered components, road safety systems, parts of railway coaches and Electro Static Precipitators (ESP).

Pennar Industries Share Price

175.30 1.80 (1.04%)

17-Apr-2026 16:59 View Price Chart

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Pennar Industries soars as RBI increases FII limit in the company

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