Man Industries surges on bagging orders worth Rs 225 crore!

This brings the value of orders received during the quarter to Rs 900 crore.

Man Industries India Ltd, which is a flagship company of the Man Group, UK, announced today that it has bagged new orders worth Rs 225 crore. This brings the value of orders received during the quarter to Rs 900 crore. The company has not disclosed the details about the name of the client, and the scope of the project.  

Man Industries India Ltd is engaged in the manufacturing and supply of steel line pipes for high and medium pressure applications such as oil, gas, petrochemical and water transportation, anti-corrosion coating systems and aluminium extrusion products. Its main business line includes manufacturing and coating of large diameter carbon steel pipes, infrastructure, realty & trading. 

With this order, the company’s unexecuted order book which now stands at approximately Rs 1700 crore, is expected to be executed in the next six to seven months. 

Reacting to this development, at the time of market close, the share price of Man Industries India Ltd was trading at Rs 97.50, which is an increase of 3.34 per cent from the previous day’s closing price of Rs 94.35 on BSE. As of December 23, the company has a 52-week high of Rs 147.15 and a 52-week low of Rs 71.30 on BSE.