Pennar Industries surges 7.5% in 2 days

Pennar Industries rose 3.97% to Rs 37.95 at 11:42 IST on BSE, with the stock extending Tuesday's gains triggered by the company along with its subsidiaries receiving orders worth Rs 105 crore.

Meanwhile, the S&P BSE Sensex was up 28.36 points or 0.11% at 25,549.55.

On BSE, so far 48,000 shares were traded in the counter as against average daily volume of 97,210 shares in the past one quarter.

The stock hit a high of Rs 38 and a low of Rs 36.90 so far during the day. The stock hit a 52-week high of Rs 42 on 23 May 2014. 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 17 June 2014, surging 31.77% compared with the Sensex's 5.8% rise. The scrip had also outperformed the market in past one quarter, jumping 81.59% as against Sensex's 17.02% rise.

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

Shares of Pennar Industries have risen 7.5% in two trading sessions from a recent low of Rs 35.30 on 16 June 2014, after the company during market hours on Tuesday, 17 June 2014, said that the company along with its subsidiaries received orders worth Rs 105 crore. The stock had surged 3.4% to settle at Rs 36.50 on Tuesday, 17 June 2014.

Pennar Industries along with its subsidiaries Pennar Engineering Building Systems (PEBS Pennar) and Pennar Enviro (PEL) received orders worth Rs 105 crore. The companies received orders from Ultratech, Reliance Industries, Abhir Infra, Integral Coach Factory (ICF), BGR Energy, JSW and SRK Engineering among others.

Pennar Industries' consolidated net profit declined 16.8% to Rs 7.42 crore on 0.5% growth in net sales to Rs 317.66 crore in Q4 March 2014 over Q4 March 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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