Pennar Industries’ scrip rises by more than 3%
DSIJ Intelligence / 17 Aug 2017
The share price of Pennar Industries increased 3.53% at Rs 58.7 at 1231 hours on the BSE in wake of the news that the company and its subsidiaries have secured orders amounting to Rs 252 crores across its various business units.
The share price of Pennar Industries increased 3.53% at Rs 58.7 at 1231 hours on the BSE in wake of the news that the company and its subsidiaries have secured orders amounting to Rs 252 crores across its various business units.
The orders have been received for coaches from Integral Coach Factory and Modern Coach Factory and for module mounting structures from Tata Power, L&T, Sterling & Wilson, and Sri Chakra Cement, among others.
Pennar Tubes has received export order for CDW tube from US and European clients. Pennar Industrial Components has been awarded repeat orders for hydraulics from Bailey and BEML. Pennar Steel Products has received orders for building components from Tata Projects, L&T, Elecon, SNC, Megha Engineering, NTPC, and Shapoorji & Pallonji.
Pennar Steel Products has also received orders for ‘collecting electrodes’ from GE Power; automobile products from VECV, Prabha Auto; and to manufacture sheet piles from RR Constructions, Balaji Impex, and others.