Man Industries (India) spurts 4% on receiving Rs807 crore order from IOCL

Man Industries (India) Ltd has informed that the company has received new order worth ~Rs807 crore from Indian Oil Corporation (IOCL) for supply of API High Grade Large Diameter Carbon steel pipes along with coating.

In a  regulatory filing the company said, "With this new order the unexecuted order book as on date stands at ~Rs1500 crore to be executed in six to eight months."

It further added, this order reflects robust business environment and also showcases the trust that customers have in the Company's technological and executional capabilities.

At around 12:55 PM, Man Industries (India) was trading at Rs95.70 apiece up by Rs3.5 or 3.8% from its previous closing of Rs92.20 apiece on the BSE.