Man Industries (India) rose 2.28% to Rs 71.80 at 12:54 IST on BSE, with the stock extending Thursday's rally triggered by the company's robust order book.
Meanwhile, the S&P BSE Sensex was down 146.32 points or 0.64% at 22,569.01.
On BSE, so far 1.08 lakh shares were traded in the counter as against average daily volume of 30,308 shares in the past one quarter.
The stock hit a high of Rs 72.25 and a low of Rs 70.35 so far during the day. The stock had hit a 52-week high of Rs 110.50 on 10 July 2013. The stock had hit a 52-week low of Rs 51.10 on 4 December 2013.
The stock had outperformed the market over the past one month till 10 April 2014, surging 16.32% compared with the Sensex's 3.56% rise. The scrip had also outperformed the market in past one quarter, jumping 23.7% as against Sensex's 9.43% rise.
The small-cap company has equity capital of Rs 28.55 crore. Face value per share is Rs 5.
Shares of Man Industries (India) have rallied 10.37% in two trading sessions from Rs 65.05 on 9 April 2014, after the company after market hours on 9 April 2014 said it has built up order book, which includes the recently received orders worth approximately Rs 700 crore from domestic and international customers. The stock had rallied 7.92% to settle at Rs 70.20 on Thursday, 10 April 2014.
Man Industries (India) said it has built up order book of approximately Rs 1200 crore, which includes the recently received orders worth approximately Rs 700 crore from domestic and international customers for supply of large diameter pipes for oil and gas as well as water sector projects. In addition to the above confirmed order the company has outstanding bids over $1 billion at various stages of evaluation for several other oil, gas and water projects in India and abroad, the company said.
Man Industries (India)'s consolidated net profit dropped 84.3% to Rs 2.41 crore on 28.4% decline in net sales to Rs 299.62 crore in Q3 December 2013 over Q3 December 2012.
Man Industries (India) is the flagship company of Man Group. The main business line of Man Industries includes manufacturing & coating of large diameter carbon steel pipes and real estate.
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