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