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Pennar Industries rises 4% as co to increase hydraulic cylinders capacity

The company has more than 25 domestic and global customers for hydraulics, including reputed OEMs, distribution and engineering companies in the world.

April 15, 2019 / 11:48 AM IST
 
 
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Shares of Pennar Industries rose 4 percent intraday Monday as company is going to increase hydraulic cylinders capacity to meet global demand.

The company in its press release said that it is scaling up its hydraulic cylinders to 200,000 cylinders per annum from the current capacity of 75,000 cylinders per annum.

The new plant will be equipped to produce 150,000 cylinders per annum with scope to expand up to 200,000 cylinders as the demand increases.

The company has more than 25 domestic and global customers for hydraulics, including reputed OEMs, distribution and engineering companies in the world, company added.