Man Industries (India) rose 9.74% to Rs 66.45 at 10:00 IST on BSE after the company said it received orders worth approximately Rs 510 crore from international market for oil & gas sector.
The announcement was made after market hours yesterday, 13 May 2015.
Meanwhile, the BSE Sensex was down 137.01 points, or 0.50%, to 27,114.09.
On BSE, so far 3.84 lakh shares were traded in the counter, compared with an average volume of 1.26 lakh shares in the past one quarter.
The stock hit a high of Rs 67.90 and a low of Rs 62.60 so far during the day. The stock hit a 52-week high of Rs 94 on 1 December 2014. The stock hit a 52-week low of Rs 44.40 on 31 March 2015.
The stock had outperformed the market over the past one month till 13 May 2015, rising 8.42% compared with 6.17% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 3.06% as against Sensex's 6.34% fall.
Also Read
The small-cap company has an equity capital of Rs 28.55 crore. Face value per share is Rs 5.
With these new orders the outstanding executable order book as on date stands at approximately Rs 1300 crore. The new order intake will result in significant improvement in performance of the company in the current financial year. The company has outstanding bids over $2 billion at various stages of evaluation for several other Oil, Gas and Water projects in India and abroad. The company therefore expects good order inflow in near future from the outstanding bids which are at various levels of evaluation by the clients, Man Industries (India) said in a statement.
Man Industries (India)'s net profit jumped 1558.9% to Rs 44.79 crore on 83.4% rise in net sales to Rs 634.35 crore in Q4 March 2015 over Q4 March 2014.
Man Industries (India) is a leading manufacturer of SAW pipes (line pipes) and coating systems for high-pressure oil & gas applications with a potential production capacity of approximately one million MT of SAW pipes per annum. Man Industries operations are spread globally with offices in US and UAE, besides India.
Powered by Capital Market - Live News