MAN Industries jumps on build up of order book

MAN Industries (India) galloped 14.68% to Rs 74.60 at 09:18 IST on BSE after the company said that it has built up order book, which includes the recently received orders from domestic and international customers.

The announcement was made after market hours on Wednesday, 9 April 2014.

Meanwhile, the BSE Sensex was up 56.89 points, or 0.25%, to 22,759.23

On BSE, 90,325 shares were traded in the counter compared with average volume of 13,048 shares in the past one quarter.

The stock hit a high of Rs 76 and a low of Rs 66.40 so far during the day. The stock hit a 52-week high of Rs 110.50 on 10 July 2013. The stock hit a 52-week low of Rs 51.10 on 4 December 2013.

The small-cap company has an equity capital of Rs 28.55 crore. Face value per share is Rs 5.

MAN Industries (India) after market hours on Wednesday, 9 April 2014 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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