MAN India secures new orders worth Rs 380 cr, shares hit 52-week high

On NSE, the stock surged 9.51% to hit a year high of Rs 257.30 as more than 1.4 mn shares changed hands on the exchange

MAN Industries (India) Ltd on Monday said it has secured new orders worth Rs 380 crore.

The current order book of the company has reached Rs 1,400 crore, MAN Industries (India) said in a statement. The current order book is to be executed within the next six months, it added.

Shares of the company surged by more than 9 per cent to hit a 52-week high of Rs 256.80 on BSE following the announcement. Around 1.24 lakh shares were traded on the exchange.

On NSE, the stock surged 9.51 per cent to hit a year high of Rs 257.30 as more than 14 lakh shares changed hands on the exchange.

Shares of the company were trading 6.98 per cent higher at Rs 250.75 on BSE and 6.38 per cent higher at Rs 249.95 on NSE in the pre-close session.

MAN Industries (India) Chairman R C Mansukhani said that these new order wins will further solidify the company's role as a significant contributor to the nation's growth and development.

MAN Industries (India) is one of the largest players in LSAW (longitudinal submerged arc welded) pipes, spirally welded pipes and coating systems.