Pennar Industries spurted 14.36% to Rs 22.70 at 10:40 IST on BSE after the company said it has received orders to the tune of Rs 102 crore.
The company made the announcement after market hours on Thursday, 27 March 2014.
Meanwhile, the BSE Sensex was up 46.48 points, or 0.21%, to 22,260.85.
On BSE, so far 53,000 shares were traded in the counter, compared with an average volume of 13,141 shares in the past one quarter.
The stock hit a high of Rs 23.35 and a low of Rs 21 so far during the day. The stock hit a 52-week high of Rs 28.95 on 10 June 2013. The stock hit a 52-week low of Rs 18.25 on 24 December 2013.
The stock had underperformed the market over the past one month till 27 March 2014, falling 2.46% compared with the Sensex's 5.85% rise. The scrip had also underperformed the market in past one quarter, falling 7.24% as against Sensex's 4.82% rise.
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The small-cap company has an equity capital of Rs 60.24 crore. Face value per share is Rs 5.
Pennar Industries, along with its subsidiaries Pennar Engineered Building Systems (PEBS Pennar) and Pennar Enviro (PEL) have received orders to the tune of Rs 102 crore. The companies received orders from L&T, HCC, Firestone TVS, Yamaha Electronics, Schindler India, UltraTech Cement, Orion Projects, Kohinoor, NSL and others, the company said in a statement.
Commenting on the development, Vice Chairman and Managing Director Mr Aditya Rao said, "Pennar is pleased to announce receipt of orders worth Rs 102 crore from such prestigious customers. PIL and its subsidiaries have improved order inflows and we are confident of beginning the next fiscal on a strong footing. Coupled with our stronger cash flow position, and our low debt levels, we are well placed to scale revenue and profitability in the next few quarters."
On a consolidated basis, Pennar Industries' net profit fell 41.2% to Rs 6.36 crore on 2.7% rise in net sales to Rs 283.19 crore in Q3 December 2013 over Q3 December 2012.
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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