Pennar Industries shares hit 52-week high on orders worth Rs 702 crore

Pennar Industries shares gained 8 percent to touch a 52-week high of Rs 93.95 in the early trade on August 16 after the company bagged orders worth Rs 702 crore across various business verticals.

The orders are expected to be executed within the next two quarters.

The share price rose 145 percent in the last one year.

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In the pre-engineered buildings (PEB) category, the company has won orders from top firms including Tata Electronics, SKB Builders, Anthea Pharma, Powertech, Godrej Boyce, Radiant Vyapaar, Revolve and Indospace.

Hyderabad-based Pennar has also secured orders from Ashok Leyland, Yamaha, Emerson, Endurance and Hydraulics, among others, in the ICD business vertical, a media release said.

In the railways business, the company has added ICF, Rites, Oriental, Wabtec, SCR, ECR, Titagarh, Daneili and Texmaco to its list of clients.

In the steel segment, the entities that have issued orders to Pennar include Tata Power, Saint Gobain, Waree, Thermax, VECV, IFB Industries, Johnson Lifts and Bimetal Bearings, among others.

Pennar has also bagged orders in the tubes business vertical from an array of companies including ALF Engineering, Kirloskar Toyota, Hindalco, Oriental Electrical, LMW and Nash Industries, among others.

The company had reported 54.9 percent jump in its June quarter net profit at Rs 21.81 crore, while revenue increased by 7 percent at Rs 748.89 crore.