The Income Tax Department concluded search operations on December 22. Man Industries share price rose as much as 3.62 per cent so far on Tuesday.
The MoU will explore the potential to establish a steel pipe manufacturing facility in the Kingdom of Saudi Arabia through Man Industries or its subsidiaries
Man Industries (India) Ltd on Tuesday said the Securities Appellate Tribunal (SAT) has granted a stay on capital markets regulator Sebi's order that barred the company and its three senior executives. The stay is conditional on the deposit of 50 per cent of the penalty amount, the company said. In its statement, Man Industries said "On October 10, 2025, SAT granted a stay on the entire Sebi order dated September 29, 2025, which was passed against the company and three other noticees." On September 29, Sebi barred Man Industries and its three senior executives from accessing the securities markets for two years and imposed a fine of Rs 25 lakh on each of them for alleged financial misstatement. Those penalised included Ramesh Mansukhani, Chairman of Man Industries; Nikhil Mansukhani, Executive Director; and Ashok Gupta, former Executive Director and current CFO. In its order, Sebi had noted that the financial statements of Man Industries (India) Ltd (MIIL) for the financial years .
Man Industries shares fell 16 per cent after Sebi banned its chairman and top executives from accessing the securities markets for two years
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The buying on the counter came after the company bagged an export order worth ₹1,700 crore. This order is expected to be delivered during the next 6 to 12 months.
Man Industries shares fell 10 per cent after its June quarter revenue marginally dropped; profit, however, rose 45 per cent