Shares of Man Industries rose 6% to hit a 52-week high of Rs 513 in early trade on July 8 after the company secured an order worth Rs 1,850 crore.
The company announced in its exchange filing that it received a prestigious line pipe order worth approximately Rs 1,850 crore, the largest single order in its history. The order was awarded by a leading international oil and gas company and involves supplying high value-added line pipes of API5L Grade for a major offshore oil and gas project. The order is expected to be delivered within the next 12 to 18 months.
As of 9:45 am, shares were trading 7.30% higher at Rs 497.70 on the BSE.
The company’s unexecuted order book currently stands at approximately Rs 4,000 crore. In June 2024, Man Industries’ plant in Anjar, Gujarat, received CE Certification from Bureau Veritas, France. This certification validates the adherence to stringent safety and quality standards outlined by the European Union for API 5L SAW and ERW lines for oil and gas applications. The certification is further supported by ISO 3834-2 welding certification issued by TUV-NORD, a mandatory requirement for the European market.
