Pennar Industries jumps after bagging new orders

Pennar Industries rose 6.80% to Rs 54.95 at 11:57 IST on BSE after the company and its subsidiary received orders worth Rs 180 crore.

The announcement was made during trading hours today, 14 August 2015.

Meanwhile, the BSE Sensex was up 368.49 points, or 1.34%, to 27,918.02.

On BSE, so far 1.76 lakh shares were traded in the counter, compared with an average volume of 1.90 lakh shares in the past one quarter.

The stock hit a high of Rs 55.80 and a low of Rs 51.65 so far during the day. The stock hit a 52-week high of Rs 71 on 10 August 2015. The stock hit a 52-week low of Rs 39.05 on 26 August 2014.

The stock had underperformed the market over the past one month till 13 August 2015, falling 5.25% compared with 1.47% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 8.20% as against Sensex's 1.10% rise.

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

Pennar Industries and its subsidiary Pennar Enviro have received orders from Yamaha, Bailey USA, Mega Rubber Technologies, Hamon Research-Cottrell, SNC Power, Larsen & Toubro, Toshiba, IFB Industries, Mahindra Solar, Waaree Industries, Integral coach factory, Bhilai Engineering Corporation, Lanco Power, Hetero drugs, HDO (for ONGC), among others.

On consolidated basis, Pennar Industries' net profit rose 18.9% to Rs 6.60 crore on 5.8% decline in net sales to Rs 282.09 crore in Q1 June 2015 over Q1 June 2014.

Pennar Industries is one of India's leading industrial organizations offering specialized, engineered steel solutions.

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