Shares of Man Industries soar on bagging new orders worth Rs 400 crore

About Orders: 

Man Industries (India) has received new orders of around Rs 400 crore. The total unexecuted order book as of today stands at around Rs 1,300 crore to be executed in 6 months. The company has received orders for supply of various types of pipes. This order reflects the robust business environment and showcases the trust of the customers they have in the company’s technological and execution capabilities. 

Share Price Movement:

Man Industries (India) is currently trading at Rs 366, up by 27.30 points or 8.06% from its previous closing of Rs 338.70 on the BSE. The scrip opened at Rs 342.75 and has touched a high and low of Rs 362.30 and Rs 342.75 respectively. So far 3,02,668 shares were traded on the counter. 

The BSE group ‘B’ stock of face value of Rs 5 has touched a 52-week high of Rs 362.30 and a 52-week low of Rs 77.85. Last one week high and low of the scrip stood at Rs 378.50 and Rs 306.45 respectively. The current market cap of the company is Rs 2,200 crore. The promoters holding in the company stood at 49.62%, while Institutions and Non-Institutions held 1.65% and 48.73% respectively. 

About Company:

Man Industries (India) is a manufacturing company that specialises in the production of LSAW Line Pipes, Hsaw Line Pipes, and Aluminium Extruded Products. Established in 1988, the company is part of the Man Group, UK, and has received numerous certifications for its quality management. Its clients include the Gas Authority of India, Indian Oil Corporation, Bharat Petroleum Corporation, Hindustan Petroleum Corporation, ONGC, Engineers India, Reliance Industries, Essar Constructions, Larsen & Toubro, Bharat Heavy Electricals, and Adani Ports. The company also has clients in Egypt, ENPPI, S.C.O.T., Syria, Shell Global International B.V., NPCC, Abu Dhabi, and Qatar Petroleum. 

It offers customised products for various sectors, including Oil, Gas, Petrochemicals, Fertilizers, and Dredging. It also manufactures HSAW Line Pipes for various sectors, with a total installed capacity of 375,000 MT per year. The company also offers coatings to protect line pipes from corrosion and enhance their operational life.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.