Pennar Industries moves higher on establishing new plant in Uttar Pradesh
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Pennar Industries is currently trading at Rs. 183.20, up by 9.35 points or 5.38% from its previous closing of Rs. 173.85 on the BSE.
The scrip opened at Rs. 179.30 and has touched a high and low of Rs. 191.50 and Rs. 178.70 respectively. So far 115442 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 185 191.50 on 2-Jul-2024 and a 52 week low of Rs. 76.70 on 05-Jul-2023.
Last one week high and low of the scrip stood at Rs. 191.50 and Rs. 162.00 respectively. The current market cap of the company is Rs. 2503.25 crore.
The promoters holding in the company stood at 39.62%, while Institutions and Non-Institutions held 4.89% and 55.49% respectively.
Pennar Industries is expanding its manufacturing operations in the Northern part of India by establishing a new plant at Raebareli, Uttar Pradesh. The company is establishing its PEB manufacturing plant in Northern part of India at Raebareli, Uttar Pradesh likely to come up in Q2 2024. The plant spans 16 acres and features a built-up area of 12,000 square meters. With a production capacity of 36,000 MT per annum, this facility is equipped with state-of-the-art machinery and a comprehensive setup. Once fully operational, the plant will enable the company to meet the demands of clients in the Northern and Eastern part of India, significantly reducing transportation costs.
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.
