Pennar Industries has jumped in noon deals after bagging orders worth Rs 50 crore for pre-engineered buildings.
The company, engaged in the production and marketing of specialised and engineered steel solutions, has won contracts worth Rs 50 crore for pre-engineered buildings in Maharashtra, Rajasthan and Karnataka.
The orders were received from Renaissance Infra Realty, Mahindra Gears & Transmissions, RT Exports, SS Developers, Oriental Aromatics, MES projects and others, it said. Commenting on the developments, Nrupender Rao, Chairman Pennar Industries said, "This reinforces the market acceptance of the design and engineering capabilities of the Company."
The stock opened at Rs 25.85 and is now up 1.8% at Rs 25.60. The stock has recovered 6% from its 52 week low of Rs 24.05. Around 4,543 shares have already been traded on the BSE so far, as against a two week daily trade average of 3,709 shares.
