Shares of Pennar Industries were trading flat during the early trading hours on 16 November. Later, the shares skyrocketed 11% after the company announced winning orders worth Rs 669 crore across various business verticals.
The company has received orders from multiple companies; however, the company has not clarified the exact dates of these orders but added that all the orders are to be executed within the next two quarters.
The Pre-Engineered Buildings vertical of the company received orders from SNJ Distilleries, RLR Infra, Taiin Infra, Antariksh Group, Power Mech Projects, MSR Assets, SR Enterprises, and TVS Sangli.
The company’s USA-based subsidiary, Ascent Buildings, has received orders from Tarheel Buildings, Red Hot Buildings, Joiner Construction, T&D Concrete, Dunn Buildings, Tifton Buildings, JA Street, and PS West Construction.
The railways vertical of the company got orders from Rites, SAIL, ICF, Wabtech, Titagarh, Oriental, and Texmaco.
Moreover, the steel vertical got orders from Waree, VECV, Steel Saint Gobain, L G Balakrishnan, Johnson Lifts, Navayuga Engg, Primex Plastics, JM Frictech, VRL, and Bimetal Bearings.
At 3:30 pm, the shares of Pennar Industries closed 11.36% higher at Rs 114.65 on NSE.