Ticker: 513228 FV: ₹5 52-Week H/L: ₹70.45/39.50

Flash News Investment - - PERFORMANCE OF DIWALI 2016 -

We had rec­om­mended Pennar In­dus­tries in vol­ume no. 33, is­sue no. 45 (dated Au­gust 28, 2017) when the scrip was trad­ing at Rs 62. Our rec­om­men­da­tion was backed by strong or­der book and pos­i­tive out­look of the sec­tor. Re­cently, the com­pany bagged an­other or­der worth Rs 238 crore across its busi­ness units (sys­tems and projects, tubes, in­dus­trial com­po­nents, steel prod­ucts, Pennar En­gi­neered Build­ing Sys­tems, Pennar En­viro). The cm­pany is fo­cus­ing on high-mar­gin prod­ucts and ex­pects ro­bust growth in rail­way and so­lar seg­ments. Dou­ble-digit growth is ex­pect- ed in pre­ci­sion tubes unit in the up­com­ing years. So, at the cur­rent lev­els, we see a de­cent up­side in the stock price and hence rec­om­mend in­vestors to HOLD this scrip.

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