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Pennar Industries share price spikes 12% on new orders worth Rs 517 crore

The scrip witnessed spurt in volume by more than 3.57 times and was trading with volumes of 69,371 shares, compared to its five day average of 16,227 shares, an increase of 327.50 percent.
Nov 20, 2020 / 02:49 PM IST
 
 
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Pennar Industries share price jumped over 12 percent intraday on November 20 after the company bagged orders worth Rs 517 crore in Q2 FY21.

Pennar Industries has bagged orders worth Rs 517 crore across its business verticals during the quarter ending September 30, 2020. The Pre-Engineered Building vertical received orders for construction of manufacturing facilities, ware houses, solar P V Modules, power plant structures from various companies like Kaizen Industries, Asian Fabtec, Ambuja Cements, Azure and others, the company said in an exchange filing.

The current order book position for pre-engineered buildings business unit stands at Rs 280 crore. The railways vertical received orders from BEML, Rites, Integrated Coach Factory, Universal Engineering and others. The current order book position for the Railways business unit is at Rs 249 crore, the company added.

The stock was trading at Rs 19.75, up Rs 2.15, or 12.22 percent at 14:27 hours. It has touched an intraday high of Rs 21 and an intraday low of Rs 17.55.

The scrip witnessed spurt in volume by more than 3.57 times and was trading with volumes of 69,371 shares, compared to its five day average of 16,227 shares, an increase of 327.50 percent.

K M Sunil, Vice President, Corporate Strategy said, "In spite of lockdowns and challenging conditions due to COVID-19, it is heartening to note that the company has across all its verticals have received good order inflow."
Moneycontrol News
first published: Nov 20, 2020 02:49 pm

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