Man Inds up over 8.5%

Man Industries is on a roll today! Within one hour of trading the stock already clocked in volumes exceeding 23 times. The stock is currently up over 8.5% at Rs.70.60 and its intraday high is at Rs.76.%2-week high is at Rs.110.50.

The stock is jumping with activity today, reacting to the news it announced yesterday after market hours – of having received orders worth Rs.700 crore from domestic and international customers for supply of large diameter pipes for Oil and gas  as well as water sector.  In addition to the above mentioned order, it also has outstanding bids worth over US$1 billion at various stages of evolution for several other oil and gas and water projects, in India and abroad.

The company has stated that it has now built up order book of around Rs.1200 crore, including this new Rs.700 crore order.