/ Pennar Ind Rises On Plans Of JV In U.S. ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Friday, 16 June 2017

Pennar Industries and Pennar Engineered Building Systems plans to set up a 50:50 joint venture in United States of America to supply their goods and services. The joint venture will enable both the companies to increase their addressable market and contribute to a rise in revenue and profitability.

Meanwhile, the stock was trading at Rs 56.35, up by 2.4% at 1230 hours IST on BSE. It hit a high of Rs 56.80 and a low of Rs 55.80 so far during the day.

The stock has delivered more than 30% returns in a period of one year. It has outperformed BSE small-cap and BSE Metal index over the same period. Its peers are Balasore Alloys and Maithan Alloys.

Pennar Industries Limited is engaged in the manufacture of steel products, including Cold Rolled Steel Strips (CRSS) and Cold Formed Metal Profiles.

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