Pennar Ind, Pennar Engineered Building to form jt venture in US

Pennar Industries has informed the exchanges that the company and Pennar Engineered Building Systems intend to set up a 50:50 joint venture in the US to supply goods and services. The joint venture will help both companies expand their addressable markets, and thus, contribute to increase in revenue and profitability, it added. Shares of Pennar Industries edged down 1 per cent at ₹54.85 on the NSE, while those of Pennar Engineered edged down 0.3 per cent at ₹135.5 on the NSE.