Following the announcement by the firm that it had secured its largest-ever single order of over ₹1,850 crore for pipes from Oil & Gas International firm, Man Industries’ share price jumped over 10% on Monday in early trade, reaching a 52-week high. The opening price of Man Industries shares on the BSE was ₹502 per share. During the day, the stock saw a high of ₹513 and a low of ₹482.70.

According to the company’s exchange filing, the Oil & Gas International Company granted Man Industries the contract to provide high value-added line pipes of API 5L grade for the huge offshore project. It is expected that the order would be delivered in the upcoming 12 to 18 months. Man Industries has around ₹4,000 crore in unexecuted orders.

“This order reflects the robust business environment and showcases the trust of the customers they have in the Company’s technological and executional capabilities,” the firm stated in its filing.

At 10:48 am, Man Industries shares were trading 6.28%  at ₹493.00.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

The share price of Man Industries climbed more than 7% on Friday after brokerage company Emkay Global Financial Services began coverage on the stock with a bullish view. Man Industries shares rose 7.11% to ₹422.95 on the BSE.

Man Industries (India) shares have been rated as a “Buy” by Emkay Global, with a target price of ₹500 per share, meaning a 27% upside.

The brokerage firm estimates the company’s move into the high-margin stainless steel market would cause its margin to increase to 11.1% in FY27E from 9.2% in FY24. The return ratios have improved significantly.

The stock of Man Industries is up 46% year-to-date (YTD) and has increased in value by more than 20% in only one month. Man Industries shares gained more than 165% in a single year.

At 10:45 am, Man Industries shares were trading 5.73%  at ₹417.00

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.