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Pennar Industries moves up on getting nod for scheme of amalgamation

  • Nov-14-2017
  • 15 Hrs IST

Pennar Industries is currently trading at Rs. 66.05, up by 0.10 points or 0.15% from its previous closing of Rs. 65.95 on the BSE.

The scrip opened at Rs. 65.20 and has touched a high and low of Rs. 66.55 and Rs. 64.00 respectively. So far 97669 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 78.60 on 06-Nov-2017 and a 52 week low of Rs. 39.50 on 21-Nov-2016.

Last one week high and low of the scrip stood at Rs. 72.80 and Rs. 64.00 respectively. The current market cap of the company is Rs. 794.91 crore.

The promoters holding in the company stood at 36.37%, while Institutions and Non-Institutions held 22.23% and 41.40% respectively.

Pennar Industries has received an approval for the Scheme of Amalgamation of Pennar Engineered Building Systems (PEBS) and Pennar Enviro (PEL) with itself and their respective shareholders. The Board of Directors of the company at its meeting held on November 10, 2017, considered and approved the same.

Pennar 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.