Pennar Industries secures new orders worth Rs1,167 crore; stock rallies ~5.5%

13 Oct 2022 , 01:08 PM

Pennar Group, a prominent provider of value-added engineering goods and solutions, has received orders totaling Rs1,167 crore across its several business verticals.

The company has received orders from major clients like NTPC, RIL, Genesis Construction, Yamaha, Integral Coach Factory, AE Engineering, Thermal Energy Systems, etc.

The orders are received for the company’s Solar EPC, Ascent Buildings, USA, ICD, Railways, Tubes, Pre-Engineered Buildings, and Steel verticals.

The company stated that the orders listed above were received in September 2022 and are expected to be completed within the next two quarters.

Pennar is a multi-product, multi-location corporation that manufactures cold-rolled steel strips and tubes, cold-rolled formed sections, electrostatic precipitators, pre-engineered construction systems, sheet metal components, and road safety equipment.

At around 1.11 PM, Pennar Industries was trading at Rs47.80 up by 5.4% from its previous closing of Rs45.35 on the BSE. The scrip touched intraday high and low of Rs48.75 and Rs45.05 respectively.

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