Pennar Industries jumps as its arm bags two prestigious orders

Pennar Industries is currently trading at Rs. 28.70, up by 1.05 points or 3.80% from its previous closing of Rs. 27.65 on the BSE.

The scrip opened at Rs. 27.95 and has touched a high and low of Rs. 28.70 and Rs. 27.90 respectively. So far 8,887 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 43.05 on 17-Nov-2011 and a 52 week low of Rs. 27.10 on 11-Jun-2012.

Last one week high and low of the scrip stood at Rs. 30.00 and Rs. 27.10 respectively. The current market cap of the company is Rs. 350.00 crore.

The promoters holding in the company stood at 39.42% while Institutions and Non-Institutions held 28.26% and 32.32% respectively.

Pennar Industries’ subsidiary Pennar Engineered Building Systems (PEBS Pennar), a leading player in the pre engineered steel buildings sector based at Hyderabad, has bagged two prestigious orders Tata Steel Group Company and Jayabheri Orange County.

The order from Tata Steel Group Company is for execution of a pre-engineered steel building in an area of 6,720 sqm. The building will be equipped with the company’s premium product, Double - Lok, a 100% leak proof standing seam roofing system. The building will have three cranes of varied weights running simultaneously along the length of the building. The project is being executed for Tata Steel Processing and Distribution and is located in Chennai. The order is expected to be completed in 6 months.

The second order from Jayabheri Orange County is for execution of multi-storeyed steel building which is an extension to existing RCC building at Gachibowli with ground + 9 floors. The project is located in Hyderabad and is expected to be completed in six months.

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).