Man Ind Touches New 52-Week High on Rs 925 Cr GAIL Order  | CORPORATE ETHOS

Man Ind Touches New 52-Week High on Rs 925 Cr GAIL Order 

By: | October 12, 2017

Oct 12: The Mansukhani family-promoted Man Industries (India) Ltd (MIIL), one of the leading large diameter API grade pipe manufacturing companies, has bagged an order worth Rs 925 crore from state-owned natural gas processing and distribution company GAIL (India) Ltd.

According to the company, the order is for supply of about 1,16,000 MT of line pipes for its Jagdishpur-Haldia-Bokaro-Dhamra Pipeline project (JHBDPL), phase II.

“With this new order, the outstanding order book as on date stands at approximately Rs 2,700 crore to be executed within a period of 9 to 12 months,” the company said.

Based in Mumbai, Man Industries is a leading manufacturer and exporter of large diameter carbon steel line pipes for various high pressure transmission applications for gas, crude oil, petrochemical products and potable water. Other than the one in Gujarat, the company has a plant in Madhya Pradesh also.

Shares of the company surged 20% to touch a new 52-week high of Rs 109.50 intraday Thursday on BSE after the announcement came in.