Pennar Industries share price rises over 10% after firm bags orders worth Rs 538 crore
Case of Maharashtra State Power Generation Co. Ltd. and Maharashtra State Electricity Distribution Co. Ltd. seeking approval for Adoption of Tariff rate of Rs 3.10/kWh for Long Term Procurement for 7 MW Solar Project under Mukhyamantri Saur Krishi Vaahini Yojana and for approval to the deviations sought in the Draft PSA and PPA.
Penar Industries share has lost 39.07% during the last one year and fallen 22.66% since the beginning of this year.
Pennar Industries share price rose in trade today after the firm bagged orders worth Rs 538 crore. The share of leading value-added engineering products and solutions company rose up to 10.71% to28.95 level on BSE.
Pennar Industries share price has been gaining for the last five days and risen 20.30% in the period.
The microcap share has lost 39.07% during the last one year and fallen 22.66% since the beginning of this year.
The firm has Tata Steel, Wipro, Bharti Infra, Mylan Laboratories, Asian Fabtech, Whitehouse India, SPML Infra, Natco, MRF and Cyient as its customers.
The Hyderabad based firm said, “The Railways business vertical received orders aggregating Rs 66 crore from customers such as Integrated Coach Factory, Rail Coach Factory, Universal Engineering, Konkan Railways, BEML and others.
The Pre-engineered building division received significant orders aggregating Rs 211 crore comprising factory buildings, warehouses and solar. These orders were received from new and repeat customers such as Tata Steel, Wipro, Bharti Infra, Mylan Laboratories, Asian Fabtech, Whitehouse India, SPML Infra, Natco, MRF and Cyient. The order book position for Pre-engineered buildings division as on June 30, 2019 was Rs 554 crore.
The tubes division received orders worth Rs 77 crore from ALF Engineering, MG Automotives, Maruthi Auto and Patton International among others; The Industrial Components division received orders worth Rs 37 crore from Emerson, Endurance, Tecumseh, Yamaha, Wabco, Firestone and others.
The Environmental and Water Treatment division received order aggregating Rs 26 crore from GMR and JSW for water treatment and effluent treatment plants. The order book for this division as on June 30, 2019 stands at Rs 86 crore.”
Pennar Industries share price was trading below its 50 and 200 day moving average of 28.88 and 34.02 on BSE.
Edited by Aseem Thapliyal