Pennar Industries jumps on new order

The company has bagged fresh orders worth Rs 70 crore.

Pennar Industries has jumped nwearly 4% to Rs 26.60 on the Bombay Stock Exchange (BSE) after the company said it has bagged fresh orders worth Rs 70 crore.

The company which is engaged in the production and marketing of specialised and engineered metal products, has received orders worth Rs 70 crore. The orders include supply of railway wagon components to Texmaco and structures to 77 Mw solar power projects from L&T, Mahindra EPC Services, Lanco, Azure Power and Moser Baer, according to a company press release.

The stock touched the high of Rs 26.95 in the opening deals. The trading volumes on the counter have more than doubled as 52,000 shares have changed hands compared to 15,000 shares that were traded daily in the past two weeks.