Pennar Industries Share Price Surges More Than 7%

Pennar Industries share price surged more than 7 per cent since the morning trade to a make an intraday high of Rs 46.30. By 11.30 AM, 4,82,347 shares of the company have been traded on NSE aggregating to a value of Rs 218.02 lacs.

On 8th December 2016, Pennar Industries informed the Bombay Stock Exchange that the Board of Directors of the Company has passed a resolution by circulation for approving the notice of postal ballot for the purpose of obtaining the approval of shareholders by way of postal ballot/e-voting in respect of making investments in excess of the limits prescribed under Section 186 of the Companies Act, 2013.

Earlier in November, Pennar Industries has made additional investment of Rs 49.50 crores in Pennar Renewables (PRPL) for acquiring a total of 49,80,392 equity shares. Earlier, on 14^th October, 2015, the company invested initially Rs 2.9 lacs and acquired 29,411 equity shares of PRPL. Pursuant to the said investment, PRPL becomes the subsidiary company.

Pennar is a multi-location, multi-product company that manufactures cold rolled steel strips & tubes, cold rolled formed sections, electrostatic precipitators, pre-engineered building systems, sheet metal components, as well as road safety systems.

Important Fundamentals:

• Sector- INFRA-MACHINERY EQUIPMENT
• Face Value (Rs.)- 5
• Average Daily Movement [ADM]- 2.02
• Average Volume [20 days]– 1,80,340
• 1 Month Return (%)- (-7.37)
• Consolidated FY 15-16 PE Ratio - 11.72
• Consolidated Trailing PE Ratio - 11.05
• Standalone FY 15-16 PE Ratio - 19.02
• Standalone Trailing PE Ratio - 18.71
• Book Value - 41.06
• Market Cap - Rs 513.89 (Cr)
• % of Promoter holding pledged – 7.43

The Highs and Lows

52 Week High (Rs.)	61.00 (12-Jan-16)
52 Week Low (Rs.)	39.25 (18-Feb-16)
Life Time high (Rs.)	70.60 (07-Aug-15)
Life Time low (Rs.)	1.95 (14-Aug-00)

Pennar Industries is one of the top 500 Shares identified by the Dynamic Levels research team at the end of every quarter out of 1700 shares on NSE. The Company has strong fundamentals with no losses in last 2 quarters, debt equity is less than 2 (not applicable in the case of NBFC and banks) and pledge is less than 25 per cent, hence safe for investment.

Pennar Industries share price is trading at Rs 45.65 a piece on NSE (at 11.50 AM), up by 6.91 per cent. Get the historical share price performance of Pennar Industries at Pennar Industries share price history.