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15-Apr2019

Pennar Industries shines on the bourses

Pennar Industries is currently trading at Rs. 39.70, up by 1.65 points or 4.34% from its previous closing of Rs. 38.05 on the BSE.

The scrip opened at Rs. 38.25 and has touched a high and low of Rs. 39.70 and Rs. 38.20 respectively. So far 5243 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 62.65 on 30-Apr-2018 and a 52 week low of Rs. 29.80 on 18-Feb-2019.

Last one week high and low of the scrip stood at Rs. 39.70 and Rs. 36.95 respectively. The current market cap of the company is Rs. 460.34 crore.

The promoters holding in the company stood at 36.41%, while Institutions and Non-Institutions held 20.02% and 43.57% respectively.

Pennar Industries is scaling up its hydraulic cylinders to 200,000 cylinders per annum from the current capacity of 75,000 cylinders pa. The company caters to both, the domestic as well as global demand for hydraulic cylinders that find applications in agricultural, forestry, construction equipment, material handling, tippers and trailers, aerospace and defence industries.

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. The company is augmenting the capacity in a new 45,000 sq. ft. state of the art plant at its existing Hydraulics manufacturing facility at Periyapalayam in Chennai. The plant will be fully equipped with complete infrastructure and best in class machinery and testing equipment to design, engineer and manufacture high quality hydraulic cylinders.

Pennar Industries is one of India's leading industrial organizations offering specialized, engineering steel solutions. The company is a multi-location, multi-product company manufacturing cold rolled steel strips & tubes, cold rolled formed sections, electrostatic precipitators, pre-engineered building systems, sheet metal components and road safety systems.


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