Man Industries (India) advanced 2.60% to Rs 84.70 after the company said it received new orders worth approximately Rs 250 crore which are to be executed over the next five months.
In the past one year, the stock has added 56.64% while the benchmark Sensex has added 16.87% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 58.023. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above/below its 50-day, 100-day and 200-day daily simple moving averages (SMA) placed at 78.58, 71.16 and 58.44, respectively.
Man Industries (India) is engaged in the manufacturing and coating of large diameter carbon steel pipes, infrastructure, and realty and trading.
The company's consolidated net profit surged to Rs 27.28 crore in Q2 FY21 from Rs 10.06 crore in Q2 FY20. Net sales during the quarter surged 91.9% YoY to Rs 587.24 crore.
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