IPO effect! Pennar Inds surges 6%

India Infoline News Service | Mumbai | March 30, 2015 10:45 IST

The company's arm has filed for an IPO.

Pennar Industries zoomed over 8 per cent to touch a high of Rs 54.40 this morning on reports that the company's subsidiary has filed for an IPO.

According to a release issued by the company to the BSE after-market hours on Friday, the company’s subsidiary Pennar Engineered Buildings Systems has filed a Draft Red Herring Prospectus with Securities Exchange Board of India (SEBI).

The stock is now up 6.3 per cent at Rs. 53.40. The counter has seen trades of around 102,000 shares as against the two-week daily average volume of around 136,000 shares on the BSE.

Meanwhile, the Sensex has gained 330 points to 27,789.

***Note: This is a NSE Chart

 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.