Pennar Industries shares increased 6.5% & the Pennar Engineered Building Systems rallied 1.6% intraday on Thursday after the group companies bagged giant orders worth INR 317 crore.
The flagship company of Pennar Group – Pennar Industries got manifold orders worth around INR 190 Crore across its various business verticals such as tubes, railways & industrial components. These orders were obtained from reputable clients including M Infratech, Ashok Leyland, Solis Engineering, IFB, Wabco, Salem Steel, Tecumseh, Mahindra, etc.
The recent orders received by the PEBS Pennar were from reputable clients such as Gemini Oils, Pokarna Limited, Aequz SEZ, Rain CII, Suguna Foods, Twenty One Sugars, etc.
“Our railways, tubes and steel divisions have obtained giant orders which will be executed in the next couple of months. PEBS Pennar has few other orders of INR 422 Cr. which will be executed in the next 7-12 months” – K M Sunil, Vice President Pennar Industries.