Pennar Industries gains after winning orders

Pennar Industries rose 1.06% to Rs 57 at 11:05 IST on BSE after the company announced major receipt of orders worth Rs 255 crore across its business units.

The announcement was made during trading hours today, 13 June 2017.

Meanwhile, the S&P BSE Sensex was up 91.31 points, or 0.29% to 31,187.01.

On the BSE, 2.17 lakh shares were traded in the counter so far, compared with average daily volumes of 1.29 lakh shares in the past one quarter. The stock had hit a high of Rs 58 and a low of Rs 56.20 so far during the day. The stock hit a 52-week high of Rs 58 on 9 June 2017. The stock hit a 52-week low of Rs 39.50 on 21 November 2016.

The stock had outperformed the market over the past one month till 12 June 2017, rising 15.69% compared with 3.01% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 33.97% as against Sensex's 5.61% rise. The scrip had also outperformed the market in past one year, rising 28.47% as against Sensex's 17.80% rise.

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

On a consolidated basis, net profit of Pennar Industries rose 10.82% to Rs 18.02 crore on 32.56% rise in net sales to Rs 464.87 crore in Q4 March 2017 over Q4 March 2016.

Pennar Industries offers specialized, engineered steel solutions. The company has a strong presence across growth sectors in India through four business units, steel products, tubes, industrial components and systems & projects, and its subsidiary companies, Pennar Engineered Building Systems, Pennar Renewables and Pennar Enviro.

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