Pennar Inds spurts on its buyback plans

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

10 Jun 2013 Evaluate

Pennar Industries is currently trading at Rs 27.60, up by 0.55 points or 2.03% from its previous closing of Rs 27.05 on the BSE.

The scrip opened at Rs 28.00 and has touched a high and low of Rs 28.95 and Rs 27.00 respectively. So far 369837 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 5 has touched a 52 week high of Rs 31.45 on 09-Jul-2012 and a 52 week low of Rs 24.00 on 25-Mar-2013.

Last one week high and low of the scrip stood at Rs 28.50 and Rs 25.05 respectively. The current market cap of the company is Rs 341.67 crore.

The promoters holding in the company stood at 40.16% while Institutions and Non-Institutions held 29.78% and 30.07% respectively.

Pennar Industries’ will be buying back company's fully paid-up equity shares of Rs 5 each from open market through the Stock Exchange mechanism for an amount not exceeding Rs 10 crore at prevailing market price on the Stock Exchanges subject to a price not exceeding Rs 40 per equity share and subject to a maximum of 40,00,000 equity shares and minimum of 10,00,000 equity shares.

The company’s board of directors, keeping in view of the current satisfactory operations of the Company and to maximize returns to investors and enhance overall shareholder value by returning surplus funds to shareholders in an investor-friendly manner, decided to buy back company’s shares at its meeting held on June 10,2013.

Pennar Industries is one of India’s leading industrial companies engaged in the production and marketing of specialized engineered steel solutions. The Company has a strong presence across growth sectors in India through four operating divisions, Engineered Products, Cold Rolled Steel Strips, Heavy Engineering Products and Infrastructure Products, and a subsidiary company, Pennar Engineered Building Systems.

Pennar Industries Share Price

167.50 -0.25 (-0.15%)

04-May-2026 16:59 View Price Chart

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