Pennar Industries shares rallied 6.5 percent and Pennar Engineered Building Systems gained 1.6 percent intraday on Thursday after the group bagged orders worth Rs 317 crore.
"Pennar Group, a leading value-added engineering products and solutions company, has bagged orders worth Rs 317 crore across its various business verticals and the subsidiary, PEBS Pennar," the company said in its filing.
The Group’s flagship company Pennar Industries received multiple orders aggregating Rs 190 crore across its business verticals such as railways, tubes and industrial components.
These orders were received from PIL's long standing customers including Solis Engineering, JM Infratech, IFB, Ashok Leyland, Tecumseh, Wabco, Mahindra, Salem Steel, etc, the company said.
Pennar Engineered Building Systems (PEBS Pennar), a leader in pre-engineered buildings and a PIL subsidiary, received orders aggregating Rs 127 crore.
The new orders received by PEBS Pennar were from customers such as Pokarna Limited, Gemini Oils, Suguna Foods, Rain CII, Twenty One Sugars, Aequs SEZ, etc.
K M Sunil, Vice President - Corporate Strategy, Pennar Industries said, "Our railways, steel and tubes divisions have received major orders which we will execute over the next couple of months. PEBS Pennar has an order book of Rs 422 crore as on date which will be executed within the next 7-12 months."
At 13:53 hours IST, Pennar Industries was quoting at Rs 38.50, up Rs 0.55, or 1.45 percent and Pennar Engineered Building Systems was quoting at Rs 58.50, up Rs 0.45, or 0.78 percent on the BSE.