Pennar Inds jumps over 3%

So far, the stock has climbed to a high at Rs. 57 on the BSE.

Pennar Industries is trading on a gung-ho note in early morning deals on the BSE, after media reported that subsidiary Pennar Engineered Building Systems has received approval from market regulator Sebi to float an initial public offer (IPO).

The stock rallied to a high of Rs. 57, and is now up 3.2 percent at Rs. 56.50.

The counter has seen trades of around 57,000 shares, as against the two-week daily average volume of 178,000 shares.

Meanwhile, the BSE Sensex has jumped 177 points at 28,110.