Pennar Inds jumps after bagging orders

Pennar Industries rallied 5.40% to Rs 26.35 after the company said it bagged orders worth Rs 304 crore across its business verticals in September 2019.

The announcement was made during market hours today, 17 October 2019.

Meanwhile, the S&P BSE Sensex was up 459 points or 1.19% to 39,057.59.

On the BSE, 15,872 shares were traded in the counter so far compared with average daily volumes of 12,541 shares in the past two weeks. The stock hit an intraday high of Rs 27 and an intraday low of Rs 24.60 so far during the day.

The stock hit a 52-week high of Rs 43.60 on 9 January 2019. The stock hit a 52-week low of Rs 23.25 on 8 August 2019.

Pennar Industries' consolidated net profit jumped 15.4% to Rs 16.61 crore on a 16.4% surge in net sales to Rs 537.83 crore in Q1 June 2019 compared with Q1 June 2018.

Pennar Industries is engaged in the manufacture of steel products, including cold rolled steel strips (CRSS) and cold formed metal profiles.

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