Shares of Pennar Industries climbed up sharply on Thursday afternoon, as the company announced bagging several orders across its diverse business verticals.
What Happened: In a press release titled, the Hyderabad-based company revealed it had received orders from a wide range of clients including RLR Infra, SNJ Distilleries, Antariksh Group, Taiin Infra, Power Mech Projects, SR Enterprises, TVS Sangli, MSR Assets, Ashok Leyland, Yamaha, Emerson, Endurance, and more. The orders encompass various business sectors that Pennar operates in, such as Pre-Engineered Buildings (PEB), Railways, Tubes, and Steel.
The press release added that the company aims to fulfil these orders within the next two quarters. The orders are with around ₹669 crore.
The announcement saw the stock rocket in today’s trade. The stock that was trading flat received a sharp bump as soon as the announcement was made at around 12:30 p.m. The announcement also helped the micro-cap stock halt its two-straight session losing streak.
Price Action: Pennar Industries’ share price was up 10.10% to trade at ₹113.35 in the late hours of trading on Thursday.
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