“The company has received a prestigious order for USD 142.44 million (approx. Rs 925 crore) from GAIL (India) for supply of about 116,000 MT. of line pipes for its Jagdishpur-Haldia-Bokaro-Dhamra Pipeline Project (JHBDPL), Phase II,” Man Industries said in a BSE filing.
With this new order, the outstanding order book as on date stands at approx Rs 2,700 crore to be executed within a period of 9 to 12 months, it added.
Man Industries is one of the leading large diameter API grade pipe manufacturing Company.
The trading volumes on the counter jumped more than 10-fold. A combined 10.29 million shares changed hands and there were pending buy orders for 750,304 shares on the NSE and BSE till 02:48 PM.