New orders boost Pennar Industries

Pennar Industries rose 2.7% to Rs 57.05 at 10:46 IST on BSE after the company along with its subsidiary secured orders worth Rs 102 crore in November 2014.

The announcement was made after market hours Tuesday, 2 December 2014.

Meanwhile, the S&P BSE Sensex was down 18.99 points or 0.07% at 28,425.02.

On BSE, so far 1.04 lakh shares were traded in the counter as against average daily volume of 8.47 lakh shares in the past one quarter.

The stock hit a high of Rs 57.60 and a low of Rs 56.45 so far during the day. The stock had hit a 52-week high of Rs 66.90 on 11 November 2014. The stock had hit a 52-week low of Rs 18.25 on 24 December 2013.

The stock had underperformed the market over the past one month till 2 December 2014, sliding 7.72% compared with the Sensex's 2.07% rise. The scrip had also underperformed the market in past one quarter, surging 35.32% as against Sensex's 5.27% rise.

The small-cap company has equity capital of Rs 60.17 crore. Face value per share is Rs 5.

Pennar Industries said that the company and its subsidiary Pennar Engineered Building Systems (PEBS Pennar) have announced receipt of orders worth Rs 102 crore in November 2014. The companies received orders from Kannur International Airport, L&T, Holtech Asia, Rane, Renaissance Infrastructure, Azure Power, Xylem France, Integral Coach Factory among others. Commenting on the development, Aditya Rao, Vice Chairman and Managing Director, Pennar Industries, said "We are pleased to announce receipt of orders worth Rs 102 crore. As the macro economic conditions are slowly improving we are able to book more orders. All our business units have recorded higher order inflow. We are expecting to further improve our order book in next few months."

Pennar Industries' consolidated net profit rose 8% to Rs 6.37 crore on 20.5% growth in net sales to Rs 298.24 crore in Q2 September 2014 over Q2 September 2013.

Pennar Industries is one of the leading engineering organizations in India, well known for its expertise in providing engineered products & services.

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