Promoters of Man Industries purchase 2.6 per cent shares

Man Industries (India) Limited, one of the leading large-diameter pipe manufacturing companies announced that the promoters of the company (RCM Group) have purchased 14.67 lakh shares, representing 2.6 per cent of the company's total shares holding during the financial year 2019-20.

The company holds an impeccable track record of uninterrupted profitability, dividend and meeting all its financial obligations in the toughest business environment. As on date, the unexecuted order book of the company stands at approximately Rs 2,000 crore to be executed in the next eight to nine months.

Recently, the company has also committed Rs 1.5 crore of contribution for fighting against COVID-19 pandemic.

Commenting on the robust financial health of the company, Dr R C Mansukhani said that the journey so far has been very fulfilling and satisfying. He further said that they are guided by the principle of growing in good times than surviving in tough times. In regards to buying shares from the market, he mentioned that he along with his family has always been buyers only and never ever sold a single share of the company in the market in more than 30 years of the company’s existence.

Man Industries (India) Limited is engaged in the manufacturing and coating of large-diameter carbon steel pipes, infrastructure, realty and trading.

On Tuesday, the stock closed at Rs 39.10, up by 1.03 per cent or Rs 0.40 per share. The 52-week high is recorded at Rs 72 and the 52-week low is Rs 31 on BSE.