Man Industries rises on bagging orders worth Rs 250 crore

Man Industries (India) Ltd, a leading manufacturer & exporter of large diameter carbon steel line pipes announced on Tuesday that the company has received new orders for approximately Rs 250 crore. Reacting to the news, its share jumped nearly 3 per cent during the early trading session on BSE. 

The new orders worth Rs 250 crore are to be executed over the next 5 months. The company is engaged in the manufacturing of longitudinal submerged arc welded (LSAW) line pipes, helically submerged arc welded (HSAW) line pipes and Aluminium extruded products.  

Man Industries is the largest manufacturer and exporter of aluminium extruded products in India. On the order book front, the company has unexecuted orders worth Rs 1,600 crore as on quarter ending September 30, 2020, which will be executed in the next 6 to 8 months. 

At 11.37 am on Tuesday, its share was trading at Rs 84.55, up by 2.42 per cent. It recorded an intraday high of Rs 85.25. Meanwhile, its 52-week high is Rs 92.70 and the 52-week low is Rs 27.16 on BSE.