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Pennar Industries strengthens on foraying into Hydraulics business

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

07 Oct 2013 Evaluate

Pennar Industries is currently trading at Rs 23.10, up by 0.40 points or 1.76% from its previous closing of Rs 22.70 on the BSE.

The scrip opened at Rs 21.60 and has touched a high and low of Rs 23.35 and Rs 21.60 respectively. So far 17351 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 5 has touched a 52 week high of Rs 30.00 on 05-Dec-2012 and a 52 week low of Rs 20.00 on 27-Sep-2013.

Last one week high and low of the scrip stood at Rs 23.00 and Rs 20.35 respectively. The current market cap of the company is Rs 278.64 crore.

The promoters holding in the company stood at 40.07% while Institutions and Non-Institutions held 29.86% and 30.06% respectively.

Pennar Industries has acquired assets of Wayne-Burt Petro Chemicals, earlier known as Bailey Hydropower, a hydraulics cylinder manufacturing company in Chennai. This acquisition marks the entry of the company into Hydraulics business. The company has acquired production, engineering, product development program and existing customer relations of Wayne Burt.

The production facility in Chennai is able to produce 2,25,000 cylinders per annum; and with a globally trained technical team, strong design and engineering capabilities and an experience of catering to supply chain in North America and India provides a solid foundation for Pennar’s plans.

Currently, the hydraulic equipment market in India is estimated to be approximately Rs 2900 crores and is expected to grow to Rs 4000 crores over the next five years.

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

167.25 -4.30 (-2.51%)

24-Apr-2026 14:56 View Price Chart

Peers

Company Name	CMP
Tata Steel	210.05
JSW Steel	1256.90
SAIL	178.25
Jindal Stainless	769.00
APL Apollo Tubes	2007.50
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Pennar Industries strengthens on foraying into Hydraulics business

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