Man Industries shares were up 2.7 percent at Rs 391 in the opening trade on February 29 after the company received an orders worth Rs 555 crore.
".... has received new orders of approximately Rs 555 crore. The total unexecuted order book as of today stands at approximately Rs 2000 crore to be executed in the next 6 months," company said.
The order is for supply of various types of pipes.
In December 2023, the company announced successful testing of its pipes for safe hydrogen transport. The testing has been conducted by a leading European research centre for hydrogen transport, ensuring structural integrity and safety for the fuel.
In the quarter ended December 2023, the company's net profit declined 17.7 percent at Rs 30.60 crore.
The company, which was founded in 1988, is a manufacturer of large-diameter carbon steel pipes used in industries such as oil and gas, petrochemicals, water, dredging, and fertilizers.
The share touched a 52-week high of Rs 459 and a 52-week low of Rs 83.21 on 05 February, 2024 and 16 March, 2023, respectively.
Currently, the stock is trading 14.81 percent below its 52-week high and 369.9 percent above its 52-week low.
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