Pennar Industries jumps nearly 21% in two sessions

Pennar Industries rose 1.05% to Rs 23.95 at 13:31 IST on BSE, extending Friday's 19.40% surge triggered by the company receiving orders to the tune of Rs 102 crore.

The company made the announcement after market hours on Thursday, 27 March 2014. Shares of Pennar Industries surged 19.40% to Rs 23.70 on Friday, 28 March 2014. The stock has risen 20.65% in two trading sessions from Rs 19.85 on 27 March 2014.

Meanwhile, the BSE Sensex was down 21.59 points, or 0.10%, to 22,318.38.

On BSE, so far 95,000 shares were traded in the counter, compared with an average volume of 16,323 shares in the past one quarter.

The stock hit a high of Rs 25.40 and a low of Rs 22.70 so far during the day. The stock hit a 52-week high of Rs 28.95 on 10 June 2013. The stock hit a 52-week low of Rs 18.25 on 24 December 2013.

The stock had outperformed the market over the past one month till 28 March 2014, rising 15.61% compared with the Sensex's 5.78% rise. The scrip had also outperformed the market in past one quarter, rising 10.75% as against Sensex's 5.41% rise.

The small-cap company has an equity capital of Rs 60.24 crore. Face value per share is Rs 5.

Pennar Industries, along with its subsidiaries Pennar Engineered Building Systems (PEBS Pennar) and Pennar Enviro (PEL), have received orders to the tune of Rs 102 crore. The companies received orders from L&T, HCC, Firestone TVS, Yamaha Electronics, Schindler India, UltraTech Cement, Orion Projects, Kohinoor, NSL and others, the company said in a statement.

On a consolidated basis, Pennar Industries' net profit fell 41.2% to Rs 6.36 crore on 2.7% rise in net sales to Rs 283.19 crore in Q3 December 2013 over Q3 December 2012.

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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